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Managing fiscal challenges in contemporary Papua New Guinea

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  • Chand, Satish

Abstract

The rising budget deficits and associated increases in public debt confronting the Government of Papua New Guinea make it difficult for that Government to comply with the legislated debt ceiling of 30 percent of GDP within the foreseeable future. In these circumstances focusing policy on containing debt to the legislated level could compromise both fiscal sustainability and developmental objectives. Rather, I argue that the Government can use public investments funded with concessional loans to raise GDP, improve developmental outcomes, and return public finances to a path of fiscal sustainability.

Suggested Citation

  • Chand, Satish, 2016. "Managing fiscal challenges in contemporary Papua New Guinea," International Journal of Development and Conflict, Gokhale Institute of Politics and Economics, vol. 6(1), pages 61-72.
  • Handle: RePEc:gok:ijdcv1:v:6:y:2016:i:1:p:61-72
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    References listed on IDEAS

    as
    1. Mancur Olson, 1996. "Distinguished Lecture on Economics in Government: Big Bills Left on the Sidewalk: Why Some Nations Are Rich, and Others Poor," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 3-24, Spring.
    2. Neumayer, Eric, 2003. "Beyond income: convergence in living standards, big time," Structural Change and Economic Dynamics, Elsevier, vol. 14(3), pages 275-296, September.
    3. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    4. Avinash K. Dixit, 1998. "The Making of Economic Policy: A Transaction Cost Politics Perspective," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540983.
    5. Fearon, James D, 2003. "Ethnic and Cultural Diversity by Country," Journal of Economic Growth, Springer, vol. 8(2), pages 195-222, June.
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