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Developing a Sustainable Economy in Cameroon

Aloysius Ajab Amin

Publication Year: 2008

Developing a Sustainable Economy in Cameroon is an ambitious effort as the authors try to set a blue print for Cameroon's economy. In the 1980s facing economic crisis, and as dictated by the structural adjustment programme, Cameroon sharply cut public investment expenditures before later cutting government consumption which were followed by privatisation, liquidation of public companies and reduction in the size of the public sector. All these measures are believed to have had devastating effects on the economy. Given the performance of the economy so far the authors suggest that much more effort, with a strong commitment of the main stakeholders, is required to guarantee sustainable economic development in Cameroon. Truly, very few countries in Africa possess such enormous human and natural resources as Cameroon does. This volume brings out the challenges Cameroon faces in its quest for development as well as for designing appropriate strategies for addressing those development challenges.

Published by: African Books Collective

Front Cover

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Title Page

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Copyright Page

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Table of Contents

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pp. v-vi

List of Tables

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pp. vii-xi

List of Illustrations / figures

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p. xii-xii

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Foreword

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p. xiii-xiii

Developing a Sustainable Economy in Cameroon is an ambitious effort as the authors try to set a blue print for Cameroon's economy. In the 1980s facing economic crisis, and as dictated by the structural adjustment programme, Cameroon sharply cut public investment expenditures before later cutting government consumption which...

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Preface

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pp. xiv-xv

Our interest in putting together this volume arose from a desire to contribute to the existing knowledge on the economy of Cameroon as much as from our perception of the knowledge gap in the existing literature in providing valuable inputs into the decision making process. The authors draw their policy implications from solid theoretical...

Acknowledgements

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pp. xvi-xvii

Notes of Contributors

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pp. xviii-xx

I - Introduction

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1 - Introduction: Conceptual Issues and Overview

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pp. 3-26

Cameroon is blessed with enormous resources. Its huge resource endowments include: (i) natural resources, with mineral reserves, pastures and forest, fertile soil, arable land, water, a good climate, plentiful sunshine and rainfall, and a sea coast with natural harbours; (ii) human resources, with one of the highest levels of education...

II - Production Issues

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2 - Agricultural Export Supply Determinants in Cameroon's Economy

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pp. 29-48

The agricultural sector plays a very important role in Cameroon’s economy, as is the case with many developing countries. Before Cameroon started exporting oil in 1978, the agricultural sector accounted for about 30 per cent of GDP and 80 per cent of total merchandise exports. The production and export of oil came from...

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3 - Analysis of Cameroon's Non-traditional Exports Market Access Potential

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pp. 49-63

Following two decades of sustained growth, Cameroon entered a period of acute economic recession in 1985. This situation is consequent, among others, to the relative lower and decreasing of the trade surplus. From international trade theory, we can discern three ways to increase the trade balance surplus: reduce imports, increase exports...

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4 - Cotton Supply Response in Cameroon

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pp. 64-78

After more than two decades of accelerated growth, arising from a period of global stability in terms of trade as well as the expansion of agricultural and oil exports, Cameroon has suffered an ongoing economic crisis since the second half of the 1980s (FAO 1995). Among the most cited causes of this crisis are the degradation...

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5 - Cameroon's Economy and Reforms

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pp. 79-102

Cameroon’s economic policy changes have usually been made in order to increase the output of goods and services, with the ultimate aim of improving societal welfare. Conceptually, economic policy may define the extent to which the public (government) policy creates a good environment to enable socio-economic growth for all sectors...

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6 - Sources of Economic Growth in Cameroon's Economy

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pp. 103-124

Cameroon’s economy performed very well for the period 1961–85, with agriculture supporting the economy during 1961–77 and petroleum production taking the lead in 1978–85. During these periods, Cameroon’s economy was regarded as well managed and the country had one of the highest per capita incomes in sub-Saharan Africa. Cameroon had such a steady economic growth rate that it seemed to be unaffected...

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7 - The Effects of Trade Reform on Cameroon's Manufacturing Industries

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pp. 125-154

Owing to the widely accepted view that liberal, outward-oriented trade policies are superior to restrictive, inward-oriented policies, and because of the slow or even negative growth of the 1980s, Cameroon broke from its tradition of inward-looking development strategies to embark upon a trade reform programme in July 1988. In...

III - Social Issues

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8 - Cameroon's Poverty Profile in 1996

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pp. 157-186

Poverty studies became topical during the 1960s and 1970s. This interest was strengthened by the availability of data as well as the concerns of the period. Today, the distribution of income still remains a topical issue. In effect, in many countries, there are various groups of households with different standards of living, which are...

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9 - The Determinants of Poverty in Cameroon

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pp. 187-200

Poverty is quite a complex phenomenon, which places the individual in a state of destitution or indigence. Marginalization, exclusion and iniquity are some of the situations that characterize the poor, though these are far from being the only ones. The study of poverty can be done from an economic perspective, as well as a social...

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10 - An Analysis of Household Attitudes toward the Purchase of Livestock Products and Fish in Cameroon

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pp. 201-218

In Africa, market-oriented livestock production is an important focus for smallholder livestock development and has a good potential for contribution to economic development. Realising this potential depends on a steady market for livestock products and an increase in production. The extent to which livestock producers will...

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11 - Economic Analysis of Private Returns to Investment in Education in Cameroon

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pp. 219-234

Newly independent African governments in the 1960s and later invested heavily in education with the conviction that this would generate rapid economic growth. In fact, education with investment in human capital was expected to contribute to growth by improving the productivity of the labour force, reduce income inequality...

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12 - Internal Efficiency of Secondary School in Cameroon: Industrial Concerns

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pp. 235-258

Investing in human capital constitutes a key factor in economic growth and economic development (e.g. Ermisch and Francesconi 2001; Jimenez et al. 1997; United Nations 1997; World Bank 1995; Lucas 1988; Boissière et al. 1985). This wave of thought rests on the human capital theory developed by Becker (1975), Mincer...

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13 - Public Provision of Health Care in Cameroon: Policy Choices and Options

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pp. 259-280

Cameroon made considerable progress in its social and economic development over the three decades following independence in 1960. The government embarked on a policy aimed at providing total coverage of the population in all aspects of health care in a progressive manner. These aspects of health included preventive and...

IV - Financial and Fiscal Issues

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14 - Financial Sector Reforms in Cameroon

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pp. 283-305

Cameroon’s economy performed well during the period 1961–1985, with agriculture supporting the economy during the period 1961–77 and petroleum taking the lead for the period 1978–85. The economy was considered well managed during this period, and the country enjoyed a steady growth rate with one of the highest per...

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15 - Determinants of the Level of Taxation in Cameroon

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pp. 306-327

The Cameroon government’s role in national life is increasing, particularly in income and wealth redistribution, internalization of externalities, regulation and supervision of the economy, and the provision of public goods and services. All these entail huge costs. Hence, financial resources must be constantly mobilized in ever-growing...

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16 - Real Exchange rate Misalignment in Cameroon, 1970-1996

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pp. 328-345

Structural adjustment programmes sponsored by the IMF/World Bank were adopted by many African (SSA) countries in the 1980s. The main objective of these programmes was to revamp the incentive base of these economies with a view to increasing especially agricultural production and export – agriculture being the largest...

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17 - Public Debt and Public Investment in Cameroon

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pp. 346-360

A major problem facing many Sub-Saharan African (SSA) countries is indebtedness, especially external indebtedness. From just over US$8 billion in 1970, these debts grew to over US$223 billion by 1995, representing over 110 per cent of GNP (Iyoha 2000; Osei, 2000). Debt service payments also rose dramatically over the...

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18 - Fiscal Policy Coordination and Economic Performance: Cameroon Case Analysis with a CGE Model

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pp. 361-379

Faced with a sharp fall in macroeconomic performance and production in the national economy in the early 1980s, Cameroon adopted in the mid/late 1980s a new strategy of economic development within the framework of Social Adjustment Programmes (SAP) in place of its previous import-substitution strategy. Gabon did...

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19 - The Informal Economy and Tax Revenue of Cameroon's Economy

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pp. 380-398

Cameroon has evolved in terms of economic, social and political changes since independence. In many cases these changes required conformity to new rules and restrictions imposed by the government. During the period, the government itself has been reforming and creating new institutions necessary for effective management...

V - Conclusion

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20 - Conclusion: Implications for Economic Development

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pp. 401-417

Cameroon’s potentials are enormous. It can easily grow above 5 per cent with economic gains well distributed across all segments of society and all sectors of the economy. But it will require intensifying and extending economic reform for improved competitiveness and economic efficiency. This means developing and designing policies...

Back Cover

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E-ISBN-13: 9782869783928
Print-ISBN-13: 9782869782099

Page Count: 440
Publication Year: 2008