IDEAS home Printed from https://ideas.repec.org/a/wly/natres/v15y1991i2p90-99.html
   My bibliography  Save this article

Managing mineral dependence: Papua New Guinea 1972–89

Author

Listed:
  • Richard M. Auty

Abstract

Papua New Guinea (PNG) managed the mineral booms of 1973–74, 1979–82 and 1987‐89 well compared with other mineral exporting economies. Orthodox macroeconomic policies were one reason for this while the cushion afforded by the slow withdrawal of Australian aid was another. PNG also renegotiated MNC mining contracts in its favour without curbing foreign investment, but it managed its fragile political unity less well. Secession closed a large mine in 1989 while successful rent‐seeking left wage indexation unreformed. Relatively high wages, exchange rate overvaluation and foreign investment controls in non‐mining sectors retarded structural diversification: mineral dependence remains uncomfortably high a generation after the start‐up of the first copper mine.

Suggested Citation

  • Richard M. Auty, 1991. "Managing mineral dependence: Papua New Guinea 1972–89," Natural Resources Forum, Blackwell Publishing, vol. 15(2), pages 90-99, May.
    • Handle: RePEc:wly:natres:v:15:y:1991:i:2:p:90-99
    DOI: 10.1111/j.1477-8947.1991.tb00119.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1477-8947.1991.tb00119.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1477-8947.1991.tb00119.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Syrquin, M. & Chenery, H.B., 1989. "Patterns Of Development, 1950 To 1983," World Bank - Discussion Papers 41, World Bank.
    2. Wood, Adrian, 1991. "Global trends in real exchange rates 1960-1984," World Development, Elsevier, vol. 19(4), pages 317-332, April.
    3. Duc Thac, Cao & Lim, David, 1984. "Papua New Guinea's tax performance, 1965-77," World Development, Elsevier, vol. 12(4), pages 451-459, April.
    4. Jeffrey D. Sachs, 1985. "External Debt and Macroeconomic Performance in Latin America and East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 523-573.
    5. Bird, Richard M., 1989. "Taxation in Papua New Guinea: Backwards to the future?," World Development, Elsevier, vol. 17(8), pages 1145-1157, August.
    6. Corbo, Vittorio & de Melo, Jaime, 1987. "Lessons from the Southern Cone Policy Reforms," The World Bank Research Observer, World Bank, vol. 2(2), pages 111-142, July.
    7. Pinto, Brian, 1987. "Nigeria during and after the Oil Boom: A Policy Comparison with Indonesia," The World Bank Economic Review, World Bank, vol. 1(3), pages 419-445, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Azam, Jean-Paul, 1999. "Dollars for Sale: Exchange Rate Policy and Inflation in Africa," World Development, Elsevier, vol. 27(10), pages 1843-1859, October.
    2. Jean-Paul Azam, 1995. "Dollars en solde : politique de change et inflation au Nigéria (1980-1993)," Revue Économique, Programme National Persée, vol. 46(3), pages 727-737.
    3. Auty, Richard M., 2003. "Natural Resources, Development Models and Sustainable Development," Discussion Papers 24136, International Institute for Environment and Development, Environmental Economics Programme.
    4. Dani Rodrik, 1993. "Trade and Industrial Policy Reform in Developing Countries: A Review of Recent Theory and Evidence," NBER Working Papers 4417, National Bureau of Economic Research, Inc.
    5. Howes, Candace & Singh, Ajit, 1995. "Long-term trends in the World economy: The gender dimension," World Development, Elsevier, vol. 23(11), pages 1895-1911, November.
    6. Ruiz Pozuelo, Julia & Slipowitz, Amy & Vuletin, Guillermo, 2016. "Democracy Does Not Cause Growth: The Importance of Endogeneity Arguments," IDB Publications (Working Papers) 7758, Inter-American Development Bank.
    7. Sebastian Galiani & Daniel Heymann & Carlos Dabus & Fernando Tohme, 2005. "Land-Rich Economies, Education and Economic Development," Working Papers 85, Universidad de San Andres, Departamento de Economia, revised Dec 2005.
    8. van der Ploeg, Frederick & Venables, Anthony J., 2013. "Absorbing a windfall of foreign exchange: Dutch disease dynamics," Journal of Development Economics, Elsevier, vol. 103(C), pages 229-243.
    9. Abdilahi Ali & Katsushi S. Imai, 2015. "Editor's choice Crises, Economic Integration and Growth Collapses in African Countries," Journal of African Economies, Centre for the Study of African Economies, vol. 24(4), pages 471-501.
    10. Astorga, Pablo, 2012. "Mean reversion in long-horizon real exchange rates: Evidence from Latin America," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1529-1550.
    11. Frederick Ploeg, 2011. "Fiscal policy and Dutch disease," International Economics and Economic Policy, Springer, vol. 8(2), pages 121-138, June.
    12. Jong‐Wha Lee & Changyong Rhee, 2002. "Macroeconomic Impacts of the Korean Financial Crisis: Comparison with the Cross‐country Patterns," The World Economy, Wiley Blackwell, vol. 25(4), pages 539-562, April.
    13. Ziogas, Thanasis & Panagiotidis, Theodore, 2021. "Revisiting the political economy of fiscal adjustments," Journal of International Money and Finance, Elsevier, vol. 111(C).
    14. Baffes, John & Chambers, Robert G., 1990. "Will the Latin American Countries ever Pay their Debt?," 1990 Annual meeting, August 5-8, Vancouver, Canada 270991, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Davide Furceri & Stéphanie Guichard & Elena Rusticelli, 2012. "Episodes of Large Capital Inflows, Banking and Currency Crises, and Sudden Stops," International Finance, Wiley Blackwell, vol. 15(1), pages 1-35, April.
    16. Joshua Aizenman, 1986. "Labor Markets and the Choice of Technology in an Open Developing Economy," NBER Working Papers 1998, National Bureau of Economic Research, Inc.
    17. Hong G. Min, 1998. "Determinants of emerging market bond spread : do economic fundamentals matter?," Policy Research Working Paper Series 1899, The World Bank.
    18. Steven B. Kamin, 1998. "A multi-country comparison of the linkages between inflation and exchange rate competitiveness," International Finance Discussion Papers 603, Board of Governors of the Federal Reserve System (U.S.).
    19. Nakatani, Ryota, 2017. "Structural vulnerability and resilience to currency crisis: Foreign currency debt versus export," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 132-143.
    20. John Whalley, 1989. "Recent Trade Liberalization in the Developing World: What is Behind It, and Where is it Headed?," NBER Working Papers 3057, National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:natres:v:15:y:1991:i:2:p:90-99. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1111/(ISSN)1477-8947 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.