01691cas a2200253 a 4500 AALejournalIMF004323 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864458 1018-5941 BD-DhAAL BD-DhAAL Ghura, Dhaneshwar. Oil and Growth in the Republic of Congo / Dhaneshwar Ghura, Rina Bhattacharya. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and that the presence of oil could have fueled political instability by being associated with weakening institutions. The results also show that fiscal discipline is beneficial for growth. In addition, there are strong linkages between world oil prices and the real effective exchange rate, with movements in the latter having important indirect repercussions for growth. Mode of access: Internet Bhattacharya, Rina. IMF Working Papers; Working Paper ; No. 2006/185 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/185/001.2006.issue-185-en.xml IMF e-Library