Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries: the case of Cameroon
This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the no...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, DC
IMF
2013
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| Schriftenreihe: | IMF working paper
13/144 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the non-oil primary deficit and public debt. Policy scenarios show that Cameroon's large infrastructural needs and relatively low current debt levels could justify a temporary deviation from traditional policy advice that suggests saving part of the oil revenue to smooth expenditure over time. Model simulations show that a relatively high degree of efficiency of public investment is needed for scaled-up public investment to make a significant contribution to growth, while maintaining fiscal sustainability |
| Beschreibung: | Description based upon print version of record |
| Beschreibung: | 1 Online-Ressource (34 Seiten) graph. Darst |
| Format: | Systemvoraussetzungen: Acrobat Reader |
| ISBN: | 9781484318256 |
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| 100 | 1 | |a Samake, Issouf |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries |b the case of Cameroon |c Issouf Samake, Priscilla Muthoora, and Bruno Versailles |
| 264 | 1 | |a Washington, DC |b IMF |c 2013 | |
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| 490 | 0 | |a IMF working paper |v 13/144 | |
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| 505 | 8 | |a Cover; Contents; I. Introduction; II. Literature Review: Revenue Management from Non-Renewable Natural Resources; III. Cameroon: Experience and Issues; Figures; Figure 1. Cameroon: Revenue and Expenditure, 1980 - 2011; IV. The Model; A. Representative Agent Maximization Problem; B. Production; C. Fiscal Policy and the Ramsey Problem; V. Model Calibration and Simulation Method; Tables; Table 1. Bayesian Posterior Means of the Model; Table 2. Maximum Likelihood Estimates; VI. Results of Policy Scenarios; A. "Scaling-Up with Reform" Scenario; B. "Conservative" Scenario | |
| 505 | 8 | |a Figure 2. Cameroon: Public Investment Path, 2012 - 32Figure 3. Cameroon: Scaling-Up with Reform Scenario, 2012-32; Figure 4. Policy Scenarios with Oil Endowment Depleting by 2032; C. "Scaling-Up No Reform" Scenario; VII. Conclusion and Policy Implications; Appendix: First Order Conditions; Figure 5. Cameroon: Selected Economic Indicators, 1980-2010; References | |
| 520 | 3 | |a This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the non-oil primary deficit and public debt. Policy scenarios show that Cameroon's large infrastructural needs and relatively low current debt levels could justify a temporary deviation from traditional policy advice that suggests saving part of the oil revenue to smooth expenditure over time. Model simulations show that a relatively high degree of efficiency of public investment is needed for scaled-up public investment to make a significant contribution to growth, while maintaining fiscal sustainability | |
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| 700 | 1 | |a Versailles, Bruno |e Verfasser |4 aut | |
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| author | Samake, Issouf Muthoora, Priscilla Versailles, Bruno |
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| contents | Cover; Contents; I. Introduction; II. Literature Review: Revenue Management from Non-Renewable Natural Resources; III. Cameroon: Experience and Issues; Figures; Figure 1. Cameroon: Revenue and Expenditure, 1980 - 2011; IV. The Model; A. Representative Agent Maximization Problem; B. Production; C. Fiscal Policy and the Ramsey Problem; V. Model Calibration and Simulation Method; Tables; Table 1. Bayesian Posterior Means of the Model; Table 2. Maximum Likelihood Estimates; VI. Results of Policy Scenarios; A. "Scaling-Up with Reform" Scenario; B. "Conservative" Scenario Figure 2. Cameroon: Public Investment Path, 2012 - 32Figure 3. Cameroon: Scaling-Up with Reform Scenario, 2012-32; Figure 4. Policy Scenarios with Oil Endowment Depleting by 2032; C. "Scaling-Up No Reform" Scenario; VII. Conclusion and Policy Implications; Appendix: First Order Conditions; Figure 5. Cameroon: Selected Economic Indicators, 1980-2010; References |
| ctrlnum | (ZDB-1-IMF)768412358 (OCoLC)867928211 (DE-599)GBV768412358 |
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| id | DE-604.BV048341454 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:13Z |
| indexdate | 2024-07-10T09:35:20Z |
| institution | BVB |
| isbn | 9781484318256 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033720721 |
| oclc_num | 867928211 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| physical | 1 Online-Ressource (34 Seiten) graph. Darst |
| psigel | ZDB-1-IMF |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | IMF |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Samake, Issouf Verfasser aut Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon Issouf Samake, Priscilla Muthoora, and Bruno Versailles Washington, DC IMF 2013 1 Online-Ressource (34 Seiten) graph. Darst txt rdacontent c rdamedia cr rdacarrier IMF working paper 13/144 Description based upon print version of record Cover; Contents; I. Introduction; II. Literature Review: Revenue Management from Non-Renewable Natural Resources; III. Cameroon: Experience and Issues; Figures; Figure 1. Cameroon: Revenue and Expenditure, 1980 - 2011; IV. The Model; A. Representative Agent Maximization Problem; B. Production; C. Fiscal Policy and the Ramsey Problem; V. Model Calibration and Simulation Method; Tables; Table 1. Bayesian Posterior Means of the Model; Table 2. Maximum Likelihood Estimates; VI. Results of Policy Scenarios; A. "Scaling-Up with Reform" Scenario; B. "Conservative" Scenario Figure 2. Cameroon: Public Investment Path, 2012 - 32Figure 3. Cameroon: Scaling-Up with Reform Scenario, 2012-32; Figure 4. Policy Scenarios with Oil Endowment Depleting by 2032; C. "Scaling-Up No Reform" Scenario; VII. Conclusion and Policy Implications; Appendix: First Order Conditions; Figure 5. Cameroon: Selected Economic Indicators, 1980-2010; References This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the non-oil primary deficit and public debt. Policy scenarios show that Cameroon's large infrastructural needs and relatively low current debt levels could justify a temporary deviation from traditional policy advice that suggests saving part of the oil revenue to smooth expenditure over time. Model simulations show that a relatively high degree of efficiency of public investment is needed for scaled-up public investment to make a significant contribution to growth, while maintaining fiscal sustainability Systemvoraussetzungen: Acrobat Reader Electronic books Muthoora, Priscilla Verfasser aut Versailles, Bruno Verfasser aut http://elibrary.imf.org/view/IMF001/20564-9781484318256/20564-9781484318256/20564-9781484318256.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Samake, Issouf Muthoora, Priscilla Versailles, Bruno Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon Cover; Contents; I. Introduction; II. Literature Review: Revenue Management from Non-Renewable Natural Resources; III. Cameroon: Experience and Issues; Figures; Figure 1. Cameroon: Revenue and Expenditure, 1980 - 2011; IV. The Model; A. Representative Agent Maximization Problem; B. Production; C. Fiscal Policy and the Ramsey Problem; V. Model Calibration and Simulation Method; Tables; Table 1. Bayesian Posterior Means of the Model; Table 2. Maximum Likelihood Estimates; VI. Results of Policy Scenarios; A. "Scaling-Up with Reform" Scenario; B. "Conservative" Scenario Figure 2. Cameroon: Public Investment Path, 2012 - 32Figure 3. Cameroon: Scaling-Up with Reform Scenario, 2012-32; Figure 4. Policy Scenarios with Oil Endowment Depleting by 2032; C. "Scaling-Up No Reform" Scenario; VII. Conclusion and Policy Implications; Appendix: First Order Conditions; Figure 5. Cameroon: Selected Economic Indicators, 1980-2010; References |
| title | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon |
| title_auth | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon |
| title_exact_search | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon |
| title_exact_search_txtP | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon |
| title_full | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon Issouf Samake, Priscilla Muthoora, and Bruno Versailles |
| title_fullStr | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon Issouf Samake, Priscilla Muthoora, and Bruno Versailles |
| title_full_unstemmed | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries the case of Cameroon Issouf Samake, Priscilla Muthoora, and Bruno Versailles |
| title_short | Fiscal sustainability, public investment, and growth in natural resource-rich, low-income countries |
| title_sort | fiscal sustainability public investment and growth in natural resource rich low income countries the case of cameroon |
| title_sub | the case of Cameroon |
| url | http://elibrary.imf.org/view/IMF001/20564-9781484318256/20564-9781484318256/20564-9781484318256.xml |
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