ASSESSMENT OF RESOURCE MANAGEMENT AND POLITICAL ECONOMY IN CAMEROON

CHAPTER ONE

INTRODUCTION

Background of the study

Economic development may be attained by efficiently mobilising the required resources from both internal and external sources. External resources include overseas assistance, external debt, foreign currency trading earnings, and foreign direct investment, among other sources. Internal resources consist of domestic savings, domestic credit, and taxes. Currently, the utilisation of these resources has become globally significant, particularly after the global economic downturn in 2009, which led to a decrease in external resource inflows, official development assistance (ODA), foreign direct investments (FDI), diaspora remittances, and domestic revenue generation in developing nations (Adler, 2019). According to the African Development Indicators (ADI) (2014), the net Official Development Assistance (ODA) to Africa during the years 1960, 1965, 1970, 1975, and 1980, when stated as a percentage of central government spending, ranged from 18.19% to 36.17%. Statistics from the ADI (2014) show that Africa's total foreign debt stock was US$ 468,271,309.3 in 1965, 4,260,031,333 in 1970, 6,394,271,117 in 1975, and 13,523,300,614 in 1980. Foreign assistance and external debt made up a significant part of the money collected by African countries, as shown by Boudreau and Lawler (2015).  Cameroon, a diversified country in Central Africa, with abundant natural resources such as oil, gas, minerals, forests, and a wide variety of species. The administration of these resources and the political economy related to them have garnered considerable attention and worry both at home and abroad.  The history of resource management in Cameroon is intricate and interconnected with political, economic, and social processes (Boxall & Purcell, 2016). Cameroon has had changes in government systems, economic policies, and resource management practices since attaining independence from colonial domination in 1960. The changes have impacted how the country's natural resources are used, managed, and distributed. Cameroon has a significant problem in effectively managing its resources due to conflicting interests and agendas. The government has earned significant profits from the exploration and exploitation of oil, gas, and minerals, but concerns remain over the openness and accountability of resource governance. Corruption, rent-seeking behaviour, and environmental degradation often occur with the exploitation of resources, affecting both the economy and society (Brannan, Fleetwood, O'Mahoney & Vincent, 2017). 

The political economy of resource management in Cameroon involves interactions among governmental actors, multinational enterprises, local populations, and international organisations. Power dynamics, vested interests, and socio-cultural variables impact the allocation of resource rents, policy formation, and contract negotiation. This impacts the fair allocation of advantages, societal fairness, and the general path of growth in the nation (Budd, 2020). Comprehensive study is needed to explore how politics, economics, and natural resource governance connect and influence Cameroon's socio-economic environment. This research intends to analyse the institutional frameworks, policy dynamics, and socio-economic implications of resource management in Cameroon to add to the current knowledge. The study aims to inform policy interventions and promote sustainable development in the nation by examining obstacles, possibilities, and viable routes for transformation (Doellgast & Marsden, 2019).  Understanding the intricacies of resource management and political economics in Cameroon is essential for tackling significant developmental obstacles and progressing the country towards a more comprehensive and enduring future. This study aims to illuminate the complex processes influencing Cameroon's resource governance environment via empirical research and critical analysis. Therefore, the researcher sought to  assess resource management and political economy in cameroon.

1.2 Statement of the problem

Cameroon's abundant natural resources, including oil, gas reserves, and vast agricultural regions, provide a unique opportunity to study resource management and its relationship with political economics. Despite the many resources available, several variables interact in a complicated way to affect how they are used, distributed, and allocated, resulting in issues like economic inequalities, environmental harm, and social turmoil (Godard, 2020). The issue concerns how well resource management laws and practices in Cameroon match with larger political and economic goals. This includes issues including governance structures, regulatory frameworks, institutional capability, transparency, accountability, and the impact of different stakeholders such as government agencies, commercial firms, international players, and local communities. There are important challenges about whether resource management practices in Cameroon support sustainable development, fair distribution of gains, and long-term socio-economic stability (Kaufman, 2020). It is important to comprehend how political factors such as governance systems, power dynamics, corruption, and policy agendas influence resource management choices and results. 

Additionally, the issue involves evaluating how external variables like global market trends, international agreements, and geopolitical interests affect Cameroon's resource management methods and economic growth path. This involves analysing matters including trade ties, foreign investments, debt sustainability, and the nation's general incorporation into the global economy. 

A thorough examination of the resource management and political economy of Cameroon is urgently needed to analyse current difficulties, possibilities, and strategies to improve the situation. Analysing this data is essential for guiding policy creation, encouraging participatory decision-making, improving openness and accountability, and ultimately supporting sustainable development in the nation. Hence, the study seeks to  assess resource management and political economy in Cameroon.

1.3 Objective of the study

The broad objective of the study is to assess resource management and political economy in Cameroon. The specific objectives is as follows

Determine whether there is an adequate formulation and implementation of resource management policies in Cameroon

Investigate the socioeconomic impacts of resource management practices in Cameroon

Examine the role of government in shaping resource management decisions in Cameroon.

Suggest strategies to promote sustainable resource utilization in fostering economic growth in Cameroon

1.4 Research questions

The following questions have been prepared for the study

Is  there an adequate formulation and implementation of resource management policies in Cameroon?

What are the socioeconomic impacts of resource management practices in Cameroon?

What are the role of government in shaping resource management decisions in Cameroon?

What are the strategies to promote sustainable resource utilization in fostering economic growth in Cameroon?

1.5 Significance of the study

The findings of the study will be significant to the following

Government: Resource management often intersects with political dynamics, including issues of governance, corruption, and conflict. In Cameroon, resource-rich regions such as the Bakassi Peninsula and the Anglophone regions have experienced tensions related to resource exploitation, leading to political instability and even armed conflict. By examining the political economy of resource management, the study can provide insights into the underlying causes of such conflicts and inform efforts to promote peace and stability.

Academia: the findings of the study will be significant to the academic community as it will contribute to the existing literature on the subject matter.

1.6 Scope of the study

The study focuses on assessing resource management and political economy in cameroon. Empirically, the study will determine whether there is an adequate formulation and implementation of resource management policies in Cameroon, investigate the socioeconomic impacts of resource management practices in Cameroon, examine the role of government in shaping resource management decisions in Cameroon and suggest strategies to promote sustainable resource utilization in fostering economic growth in Cameroon.

1.7 Limitations of the study

Like in every human endeavour, the researchers encountered slight constraints while carrying out the study. Insufficient funds tend to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, and interview), which is why the researcher resorted to a moderate choice of sample size. More so, the researcher will simultaneously engage in this study with other academic work. As a result, the amount of time spent on research will be reduced.

1.8 Definition of terms

Resource management: the process by which businesses plan, schedule, and allocate resources in order to achieve the highest organizational value

Political economy:a branch of the social sciences that studies the relationships between individuals, governments, and public policy.