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Identifiers

doi
10.1596/1813-9450-4595
handle
10986/6747

Mineral-Rich Countries and Dutch Disease : Understanding the Macroeconomic Implications of Windfalls and the Development Prospects, The Case of Equatorial Guinea

Flag for IGO World Bank on May 31st 2012
Toto Same, Achille
Referring to the original context of Dutch Disease, the term refers to the fears of de-industrialization that gripped the Netherlands as a result of the appreciation of the Dutch currency that followed the discovery of natural gas deposits. Expansion of petroleum exports in the 1960s not only crowded out other exports, it actually reduced other exports disproportionately and fueled the fears of dire consequences for Dutch manufacturing. In the case of Equatorial Guinea, the secondary sector represents about 2 percent of the gross domestic product, manufacturing represents less than 1 percent, and oil represents more than 95 percent. The negative impact of the Dutch Disease in this context would be limited given the structure of the economy and on the contrary may even be a good thing because it fuels the structural transformational process of the economy, which is needed in Equatorial Guinea. This paper argues that the ongoing Dutch Disease is a natural and necessary reallocation of resources in the econom...

Topics in this document

Related SDGs

SDG 8: Decent Work and Economic Growth ...
SDG 8: Decent Work and Economic Growth

Target 8.2

Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

Target 8.4

Improve progressively global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the lead

Citations

Cited by 2 other policy documents (all of them are from other policy sources)
 

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James Daniel at International Monetary Fund
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