Oil, Growth and Political Development in Angola
| dc.creator | Kyle, Steven C. | |
| dc.date | 2017-04-01T18:51:10Z | |
| dc.date.accessioned | 2026-07-09T06:14:20Z | |
| dc.description | 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 | doi:10.22004/ag.econ.127007 | |
| dc.identifier | https://ageconsearch.umn.edu/record/127007/files/Cornell_Dyson_wp0705.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/127007 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/574086 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/127007 | |
| dc.title | Oil, Growth and Political Development in Angola | |
| dc.type | Text |