Growth and Productivity in Papua New Guinea

May 1, 2006

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Format: Chicago

Ebrima A Faal. Growth and Productivity in Papua New Guinea, (USA: International Monetary Fund, 2006) accessed November 24, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This 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.

Subject: Growth accounting, Labor, Production growth, Productivity, Total factor productivity

Keywords: GDP, TFP growth, WP

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2006/113
Stock No:

WPIEA2006113
ISBN:

9781451863734
ISSN:

1018-5941

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