Oil, Growth and Political Development in Angola
| dc.contributor.author | Kyle, Steven C. | |
| dc.date.accessioned | 2018-08-21T17:09:14Z | |
| dc.date.available | 2018-08-21T17:09:14Z | |
| dc.date.issued | 2007-03-01 | |
| dc.description | WP 2007-05 March 2007 | |
| dc.description.abstract | Angola is more dependent on oil than any other country in Sub Saharan Africa and most other countries as well, apart from a handful of OPEC members. Contributing half or more of GDP, oil revenues condition and distort every other macroeconomic variable in the country, a situation that has existed for decades. Appreciation of the real exchange rate is the main macroeconomic distortion resulting from these inflows of mineral income. The paper demonstrates a marked tendency for the Angolan Kwanza to appreciate in recent years, and continuation of this trend is one of the biggest threats to economic rehabilitation of Angola’s war-torn non-oil economy. Resulting economic distortions are quantified using an index of distortion based on Chenery-Syrquin “standard” growth paths of economic structure. Optimal savings and expenditure rates out of mineral income are calculated based on a permanent income approach to optimal expenditure over time. Finally, implications of oil revenue for the future political development of Angola’s main parties are discussed. | |
| dc.identifier.uri | https://hdl.handle.net/1813/57719 | |
| dc.language.iso | en_US | |
| dc.publisher | Charles H. Dyson School of Applied Economics and Management, Cornell University | |
| dc.title | Oil, Growth and Political Development in Angola | |
| dc.type | article | |
| dcterms.license | http://hdl.handle.net/1813/57595 |
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