Struggle, Reform, Boom and Bust : An Economic History of Papua New Guinea since Independence

• Autore: Howes Stephen
• Pubblicazione: Canberra : , : ANU Press, , 2025; ©2025
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (442 pages)
• Soggetto topico: BUSINESS & ECONOMICS / Development / General; BUSINESS & ECONOMICS / Economic History
• Altri autori: DaviesMartin FoxRohan LaveilMaholopa PandeyManoj K SamofKelly SumDek Joe
• Nota di contenuto: Intro -- List of illustrations -- Figure 1.1: GDP growth, 1976-2022 (kina, constant prices) -- Figure 1.2: GDP and non-resource GDP per person, and the four periods of PNG's economic history, 1976/1983-2022 (kina, constant prices) -- Figure 1.3: PNG commodity export price index (2010 = 1), 1976-2022 -- Figure 1.4: Estimated per person subsoil (non-renewable resource) asset value for 2018 in USD, the top 50 countries -- Figure 2.1: GDP and non-resource GDP growth, 1977-88 (kina, constant prices) -- Figure 2.2: GDP and non-resource GDP per person, 1976-88 (kina, constant prices) -- Figure 4.1: GDP and non-resource GDP growth, 1989-2003 (kina, constant prices) -- Figure 4.2: GDP and non-resource GDP per person, 1988-2003 (kina, constant prices) -- Figure 5.1: Government recurrent goods and services per person, 1989-2022 (kina, constant prices) -- Figure 6.1: GDP and non-resource GDP growth, 2004-13 (kina, constant prices) -- Figure 6.2: GDP and non-resource GDP per person, 2003-13 (kina, constant prices) -- Figure 6.3: GDP growth by sector, 2003-13 (kina, constant prices) -- Figure 7.1: Mobile phones in use in PNG over time, 2000-19 -- Figure 8.1: Real GDP and non-resource GDP growth, 2014-22 (kina, constant prices) -- Figure 8.2: Real GDP and non-resource GDP per person, 2013-22 (kina, constant prices) -- Figure 8.3: Air arrivals to Papua New Guinea, 1996-2019 -- Figure 8.4: Top two business constraints according to PNG CEOs, 2014-24 -- Figure 9.1: Salary and interest as a percentage of own revenue, 1989-2022 -- Figure 9.2: PNG exports to and imports from Australia and China, 2000-20 -- Figure 10.1: The best and worst of times-the noughties and the tens. An analysis using period average growth rates. ; Figure 10.2: The most stable and volatile of times-the seventies/eighties and the nineties. An analysis based on growth volatility, inflation and depreciation -- Figure 10.3: The most unusual of times-the tens. Index analysis, setting the average in the tens to 100% -- Figure 10.4: GDP per person in PNG, Botswana and Malaysia, 1975-2020 -- Figure 10.5: GDP per person in 1980 and GDP per person growth rate, 1980-2020, for a large number of countries, with PNG represented as a diamond -- Figure 10.6: Immunisation rates for measles-PNG, low-income and lower-middle-income countries 1984-2022 -- Figure 12.1: PNG's ranking on the Worldwide Governance Indicators effective government index, 1996-2022 -- Figure 12.2: Constraints to business, 2002-17 -- Figure 12.3: A political economy model of PNG-the hyper-political, insecurity trap -- Table 3.1: International comparison of costs (1993) -- Table 5.1: The three structural adjustment programs of the nineties -- Table 6.1: Advertised property sale prices, 1985-2010 (kina, constant prices) -- Table 8.1: PNG credit ratings, 1999-2022 -- Table 10.1: Population over the four periods -- Table 10.2: Growth and employment-period averages -- Table 10.3: The structure of the economy-period averages -- Table 10.4: Commodity prices and exports-period averages -- Table 10.5: Resource exports-period averages -- Table 10.6: Non-resource commodity exports-period averages -- Table 10.7: Exports, imports, the current account balance (CAB) and foreign exchange (FX) reserves-period averages -- Table 10.8: The financial sector-period averages -- Table 10.9: The exchange rate and inflation-period averages -- Table 10.10: Government revenue, expenditure and borrowing-period averages -- Table 10.11: Service delivery indicators post-independence-period averages. ; Table 10.12: Pre-boom, boom and post-boom growth rates in Africa and PNG -- Table 10.13: Population and democracy disruptions for countries with similar growth rates and starting points to PNG -- Table 10.14: PNG standard of living and service delivery indicators-international rankings -- Authors -- Preface and acknowledgements -- Acronyms and disambiguation -- 1. Introduction -- 1.1 Introduction -- 1.2 Context, data, resources and approach -- 1.2.1 An introduction to PNG -- 1.2.2 Data and resources -- 1.2.3 Approach and structure -- 1.3 The seventies and eighties (1975-88)​-early struggles -- 1.4 The nineties (1989-2003)-volatility, crisis and reform -- 1.5 The noughties (2004-13)-the boom -- 1.6 The tens (2014-22)-the quiet bust -- 1.7 Conclusion -- Part I: 1975-88: The seventies and eighties: Early struggles -- 2. Slow growth and austerity -- 2.1 Introduction -- 2.2 Economic growth -- 2.2.1 Slow growth -- 2.2.2 Agriculture and manufacturing -- 2.2.3 Resource sector -- 2.2.4 Employment and the informal economy -- 2.3 The macroeconomy -- 2.3.1 Fiscal policy -- 2.3.2 Monetary policy -- 2.3.3 Exchange rate policy and the balance of payments -- 3. Harder than expected -- 3.1 Economic policies -- 3.1.1 Economic policy at independence -- 3.1.2 Economic policy through the eighties -- 3.1.3 High costs and the investment climate -- 3.1.4 Rural development -- 3.1.5 Land policy -- 3.2 Politics and governance -- 3.2.1 Politics -- 3.2.2 Public services -- 3.2.3 Corruption -- 3.2.4 Decentralisation -- 3.2.5 Law and order -- 3.3 Conclusion -- Part II: 1989-2003: The nineties: Volatility, crisis and reform -- 4. A decade of volatility -- 4.1 Introduction -- 4.2 A brief chronology -- 4.3 Economic growth -- 4.3.1 Volatile growth -- 4.3.2 Sectoral developments -- 4.3.3 The financial sector -- 4.4 The macroeconomy -- 4.4.1 Macroeconomic instability. ; 4.4.2 Exchange rate policy and the balance of payments -- 4.4.3 Fiscal policies -- 4.4.4 Monetary policy -- 5. A decade of reform -- 5.1 Economic reforms -- 5.1.1 Early nineties -- 5.1.2 Mid-nineties -- 5.1.3 Late nineties and early 2000s -- 5.1.4 The three structural adjustment programs -- 5.2 Politics and governance -- 5.2.1 Politics -- 5.2.2 Public services -- 5.2.3 Corruption -- 5.2.4 Decentralisation and Bougainville -- 5.2.5 Law and order -- 5.3 Conclusion -- Part III: 2004-13: The noughties: Boom time -- 6. The boom -- 6.1 Introduction -- 6.2 Economic growth -- 6.2.1 The boom -- 6.2.2 Sectoral developments, employment and housing -- 6.3 The macroeconomy -- 6.3.1 Fiscal policy -- 6.3.2 Monetary policy -- 7. The stalling of reform -- 7.1 Economic policy -- 7.1.1 The mobile telecom revolution -- 7.1.2 The stalling of reforms -- 7.1.3 Resource nationalism -- 7.1.4 Land reforms and controversies -- 7.2 Politics and governance -- 7.2.1 Politics -- 7.2.2 Public services -- 7.2.3 Corruption -- 7.2.4 Decentralisation -- 7.2.5 Law and order -- 7.2.6 Foreign aid and relations with Australia -- 7.3 Conclusion -- Part IV: 2014-22: The tens: The quiet bust -- 8. The bust and its macroeconomics -- 8.1 Introduction -- 8.2 Economic growth -- 8.2.1 The bust -- 8.2.2 Sectoral developments and employment -- 8.2.3 Resource sector optimism and delays -- 8.3 The macroeconomy -- 8.3.1 Foreign exchange rationing -- 8.3.2 Low resource revenue -- 8.3.3 High deficits -- 8.3.4 Central bank performance and reforms -- 8.3.5 The re-emergence of budget support -- 9. The turn to economic nationalism -- 9.1 Economic policies -- 9.1.1 State-owned enterprise reform and infrastructure -- 9.1.2 Reservations for national businesses -- 9.1.3 Protectionism -- 9.1.4 Resource sector policy -- 9.1.5 Land policy -- 9.2 Politics and governance -- 9.2.1 Politics -- 9.2.2 Public services. ; 9.2.3 Corruption -- 9.2.4 Decentralisation and Bougainville -- 9.2.5 Law and order -- 9.2.6 Changing geopolitical environment -- 9.3 Conclusion -- Part V: Overview and conclusion -- 10. Trends and patterns -- 10.1 Introduction -- 10.2 Population, economic growth and employment -- 10.3 The structure of the economy -- 10.4 Commodity prices and exports -- 10.5 The resource sector -- 10.6 Agriculture -- 10.7 Trade and the balance of payments -- 10.8 The financial sector -- 10.9 The exchange rate and inflation -- 10.10 Fiscal outcomes -- 10.11 Service delivery -- 10.12 Summary period comparisons -- 10.13 Overall assessment-an international perspective -- 11. Economic policies -- 11.1 Introduction -- 11.2 Macroeconomic policy challenges -- 11.3 The rise and fall of the Washington Consensus -- 11.4 Resource policy-big changes and questions -- 11.5 Downstream processing and import substitution-pursued in moderation -- 11.6 The land stalemate -- 11.7 The informal economy-benign neglect -- 11.8 The retreat from equality -- 11.9 Conclusion -- 12. Institutional underpinnings -- 12.1 Introduction -- 12.2 Post-independence institutional trends -- 12.2.1 Hyper-politics -- 12.2.2 Government effectiveness -- 12.2.3 Law and order -- 12.2.4 The importance of institutional constraints -- 12.3 Growth determinants -- 12.3.1 Geographical, international, cultural and social factors -- 12.3.2 Political theories of development -- 12.3.3 Insecurity -- 12.4 An institutional explanation -- 12.5 Final reflections -- Annex A: Political tables and figures -- Annex B: Economic figures -- Annex C: Resource projects -- References.
• Sommario/riassunto: Since Papua New Guinea's independence in 1975, economic growth has been slow but volatile, with major changes in economic structure and policies, as well as in politics and governance.
• Titolo autorizzato: Struggle, Reform, Boom and Bust
• ISBN: 1-76046-700-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9911021673603321
• Lo trovi qui: Univ. Federico II
• Serie: Pacific Series