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Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries
Issouf SamakéMs.Priscilla S. MuthooraMr.Bruno Versailles
其他書名
The Case of Cameroon
出版International Monetary Fund, 2013-06-11
主題Business & Economics / Public FinanceBusiness & Economics / Taxation / GeneralBusiness & Economics / Industries / Energy
ISBN14843220619781484322062
URLhttp://books.google.com.hk/books?id=_e19A3Shmr8C&hl=&source=gbs_api
EBookSAMPLE
註釋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.