Growth and Productivity in Papua New Guinea

Ebrima Faal

No 06/113, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: GDP Growth; total factor productivity; Papua New Guinea; Gross domestic product; Papua New Guinea; Economic growth; Productivity; Investment; Structural adjustment; Business cycles (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff and nep-mac
Date: 2006-05-10
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Persistent link: http://EconPapers.repec.org/RePEc:imf:imfwpa:06/113

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