Growth and Productivity in Papua New Guinea
AbstractThis paper has examined Papua New Guinea''s historical economic growth patterns through a simple growth accounting framework. The analysis shows that swings in growth are mostly accounted for by a significant slowdown in capital input and lower Total Factor Productivity (TFP) growth. It also suggests that raising real GDP growth will require increases in both investment levels and productivity. With a ratio of investment to GDP of 13 percent during the last decade, significantly higher productivity growth and investment will be needed to sustain GDP growth rates at 5 percent or higher. The historical performance also indicates that, in the absence of structural reforms and strong institutions, higher rates of productivity growth will be hard to achieve.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 06/113.
Date of creation: 01 May 2006
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-05 (All new papers)
- NEP-EFF-2006-08-05 (Efficiency & Productivity)
- NEP-MAC-2006-08-05 (Macroeconomics)
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