Sectoral labour productivity and economic competitiveness in New Caledonia

Productivité sectorielle du travail et compétitivité de l’économie de la Nouvelle-Calédonie

Serge Rey and Catherine Ris ()
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Catherine Ris: LARJE - Laboratoire de Recherches Juridique et Economique - UNC - Université de la Nouvelle-Calédonie

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Abstract: A small island economy, New Caledonia stands out amidst other French overseas territories, and even more so the islands of Oceania, for its high standard of living and human development. However, it also suffers from the disadvantages common to small island economies (remoteness, small market size, etc.). The slowdown in growth observed over the last few years reveals how the New Caledonian model of "extensive" growth is losing pace overall: producing more from more of inputs to satisfy the domestic demand, protecting itself from international competition in the process, and drawing largely on nickel mining. This article aims to assess the competitiveness of New Caledonia's economy. It puts forward labour productivity indicators for the main market sectors of the New Caledonian economy from 1992 to 2014 to derive changes in unit costs and finally in real exchange rates. It shows that labour productivity has tended to stagnate since the early 2000s, while at the same time increases in minimum wage contribute to an increase in unit costs and a decline in competitiveness.

Keywords: New Caledonia; Labour productivity; Price/cost competitiveness; Nickel industry (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

Published in Economie et Statistique / Economics and Statistics, 2018, 499, pp.29-53. ⟨10.24187/ecostat.2018.499s.1938⟩

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Journal Article: Sectoral labour productivity and economic competitiveness in New Caledonia (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01885277

DOI: 10.24187/ecostat.2018.499s.1938

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