A Financial Social Accounting Matrix for the Integrated Macroeconomic Model for Poverty Analysis : Application to Cameroon with a Fixed-Price Multiplier Analysis

Cameroon is engaged in the Poverty Reduction Strategy Paper (PRSP) process, which emphasizes increased focus on poverty reduction in the design and implementation of growth and adjustment strategies. The Integrated Macroeconomic Model for Poverty Analysis (IMMPA) recently developed at the World Bank provides an analytical structure for supporting the PRSP process and quantifying poverty reduction strategies. Drawing on that framework, the authors provide a detailed financial social accounting matrix (SAM) for the Cameroonian economy to serve as input into the construction of an IMMPA model for Cameroon. An analysis of this financial SAM shows that the dramatic fall in investment during the crisis period persisted in the post-devaluation growth period in the late 1990s. Continued low investment has implications for ongoing high unemployment rates and poor welfare indicators. The authors illustrate this with simulations based on fixed-price multiplier analysis that highlight the potential growth and welfare benefits of increased public investment, following hypothetical debt relief and reduction of external debt servicing within the framework of the heavily indebted poor countries initiative.

Bibliographic Details

Main Authors:	Christian A. Emini, Hippolyte Fofack
Format:	Policy Research Working Paper biblioteca
Language:	English en_US
Published:	World Bank: Washington, DC 2004-02
Subjects:	MACROECONOMIC MODELS, POVERTY REDUCTION STRATEGIES, SOCIAL ACCOUNTING MATRICES, POVERTY ANALYSIS, INVESTMENT RATES, UNEMPLOYMENT RATES, WELFARE INDICATORS, MULTIPLIER ECONOMICS, PUBLIC INVESTMENTS, DEBT RELIEF, EXTERNAL DEBT SERVICE, HEAVILY INDEBTED POOR COUNTRIES ACCOUNTING, ADJUSTMENT POLICIES, AGGREGATE INCOME, AGGREGATE LEVEL, AGGREGATE OUTPUT, AGRICULTURAL PRODUCTION, AGRICULTURAL SECTOR, AGRICULTURE, AVERAGE GROWTH, BALANCE OF PAYMENTS, BANKING SECTOR, CAPITAL ACCOUNTS, CAPITAL FORMATION, CAPITAL INVESTMENT, CENTRAL BANK, CIVIL SERVICE, COMPETITIVENESS, CREDIT RATIONING, CROWDING OUT, CURRENT PRICES, DEBT, DEVALUATION, DEVELOPING COUNTRIES, DEVELOPMENT ASSISTANCE, DISTRIBUTION OF INCOME, DIVERSIFICATION, DOMESTIC MARKETS, ECONOMIC CONTRACTION, ECONOMIC GROWTH, ECONOMIC OUTLOOK, ECONOMIC RECESSION, ECONOMIC REFORMS, ECONOMISTS, EFFICIENCY WAGES, EMPIRICAL STUDIES, EQUILIBRIUM, EXCESS SUPPLY, EXCHANGE RATES, EXPORTS, EXTERNAL DEBT, FINANCIAL DATA, FINANCIAL FLOWS, FINANCIAL INSTITUTIONS, FINANCIAL SECTOR, FINANCIAL TRANSACTIONS, FISCAL DEFICITS, FISCAL YEAR, FOREIGN EXCHANGE, GDP, GROSS FIXED CAPITAL FORMATION, GROSS VALUE, GROWTH CONTEXT, GROWTH PROCESS, GROWTH RATE, GROWTH RATES, HEADCOUNT INDEX, HIGH POVERTY, HIGH UNEMPLOYMENT, HOUSEHOLD INCOME, HOUSEHOLD SURVEY, HOUSEHOLD SURVEYS, IMPORTS, INCOME, INCOME COUNTRIES, INCOME GROUPS, INCOME GROWTH, INCOME TAXES, INCREASED EMPHASIS, INCREASED INVESTMENT, INDIVIDUAL INCOME, INDIVIDUAL LEVEL, INFORMAL ECONOMY, INFORMAL EMPLOYMENT, INFORMAL SECTOR, INFORMAL SECTOR EMPLOYMENT, INFORMAL SECTORS, INTERMEDIATE INPUTS, LABOR COSTS, LABOR FORCE, LABOR MARKET, LABOR MARKETS, LEGISLATION, LIQUIDITY, LIVING STANDARDS, LOW SHARE, LOW-INCOME COUNTRIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMICS, MEDIUM TERM, MIGRATION, MINIMUM WAGE, MINIMUM WAGES, MULTIPLIERS, NATIONAL ACCOUNTS, NATIONAL EMPLOYMENT, NATIONAL INCOME, NATIONAL LEVEL, NATIONAL POVERTY, NEGATIVE IMPACT, NET WORTH, NEW ENTRANTS, NONPERFORMING LOANS, OIL, OIL PRICES, OPERATING SURPLUS, PER CAPITA INCOME, POLICY REFORMS, POLICY RESEARCH, POLITICAL CONTEXT, POOR COUNTRIES, POOR HOUSEHOLDS, POVERTY REDUCTION, POVERTY REDUCTION STRATEGY, PRESENT VALUE, PRIVATIZATION, PRODUCERS, PRODUCTIVITY, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC INVESTMENT, PUBLIC SECTOR, PUBLIC SERVICE, PUBLIC SPENDING, REAL SECTOR, REAL WAGES, RECURRENT EXPENDITURES, RESOURCE MOBILIZATION, RETURN ON INVESTMENT, RURAL AREAS, SAFETY NET, SAFETY NETS, SAVINGS, SECTOR ACTIVITIES, SECTORAL COMPOSITION, SKILLED LABOR, SKILLED WORKERS, SOCIAL COSTS, SOCIAL INDICATORS, SOCIAL SAFETY NETS, SOCIAL SERVICES, STRUCTURAL ADJUSTMENT, SUSTAINABILITY ANALYSIS, TAXATION, TERMS OF TRADE, TIMBER, TRADE SHOCKS, TRADE UNIONS, TRADED SECTOR, UNEMPLOYMENT BENEFITS, UNEMPLOYMENT RATE, UNSKILLED LABOR, URBAN AREAS, URBAN POVERTY, VALUE ADDED, VULNERABLE GROUPS, WAGE DIFFERENTIALS, WAGES, WELFARE EFFECTS,
Online Access:	http://documents.worldbank.org/curated/en/2004/02/3061178/financial-social-accounting-matrix-integrated-macroeconomic-model-poverty-analysis-application-cameroon-fixed-price-multiplier-analysis http://hdl.handle.net/10986/14440
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