Oil Revenues and Economic Policy in Cameroon: Results from a Computable General Equilibrium Model

摘要: This paper analyzes the impact of oil revenues on agriculture-based economy Cameroon, a significant (100,000 barrels per day) but temporary (20 years' reserves) producer. It has been observed in other exporting countries that when are spent domestically, an appreciation real exchange results, leading to shift production mix away from tradable sectors favor nontradables. Using multisectoral, general equilibrium model, we show while this effect occurs aggregate, some actually expand. In particular, import-substituting industries, because they produce output which is only imperfectly substitutables with foreign goods, undergo increase demand despite rate appreciation. The traditional export - cocoa and coffee do suffer, however, as result their decline international competitiveness. Moreover, wages throughout economy, gap between rural urban widens. Finally, efforts protect tariffs have little reversing structural change induced by revenues.