Download or read book An Analysis of Effective Exchange Rate Changes in Papua New Guinea written by P. A. S. Dahanayake and published by . This book was released on 1982 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Policy in Papua New Guinea written by John Fallon and published by . This book was released on 1995 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants of Real Exchange Rate written by Mamta B. Chowdhury and published by . This book was released on 1999 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Does Nominal Devaluation Precede Real Devaluation in Flexible Exchange Rate Regime A Case Study of Papua New Guinea written by Ravinder Rena and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Economy can be pretentious by the progression of devaluation or depreciation of local currency either positively or negatively. The improvement in trade balance is considered as one of the significant and beneficial impacts occurring on account of devaluation by means of an increase in the volume of exports while lessening in the volume of imports. However, higher inflation would lead to expensive imports that offset the growth of economy resulting from increase in the exports. This reduces the effectiveness of devaluation in bringing down trade deficit. The benefits of devaluation are restricted where inflation severely hits the economy. Moreover, nominal devaluation improves the trade balance when it leads to real devaluation. The relationship between nominal and real effective exchange rates is explored in the present hypothesis. The study is a unique attempt in the case of Papua New Guinea as devaluation has always been a politically sensitive issue. In this paper investigation, regarding “whether nominal devaluation precedes the real devaluation or not” both in the long run as well as in short span of time is done. The order of integration has been found through Ng-Perron, whereas ARDL, Co-integration Johansen Test and DOLS are employed for long run correlations. The findings of the paper clearly indicate the fact that nominal devaluation not only does lead to real devaluation in long span of time but also in the short run. This scenario provides directions for policy-makers to take into consideration both positive and negative implications of devaluation in Papua New Guinea.
Download or read book The Exchange Rate Issue and the Cash Flow Problem in Papua New Guinea written by Desh Gupta and published by . This book was released on 1995 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Some Critical Problems in the Papua New Guinea Financial System written by Tom J. Valentine and published by . This book was released on 1987 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Papua New Guinea Selected Issues and Statistical Appendix written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-04-03 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper explores the medium-term determinants of the current account balance in Papua New Guinea. It provides an assessment of the exchange rate, and presents some background on recent exchange rate developments. It uses two dynamic panel regression models to estimate the current account and exchange rate determinants across 55 countries. The paper applies the estimation results to Papua New Guinea's data and presents the exchange rate assessment for the kina under a baseline scenario and a terms-of-trade-shock scenario.
Download or read book Exchange Rate and Macro economic Policy in Independent Papua New Guinea written by Ross Garnaut and published by . This book was released on 1984 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Path to Kina Convertibility written by Martin Davies and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Papua New Guinea (PNG) has faced a foreign exchange (forex) shortage since 2015. To protect reserves, the Bank of PNG has resorted to forex rationing that led to a large backlog of orders and import compression. This paper surveys the structure of PNG's forex market and analyzes recent market conditions. We argue that the various policy proposals being discussed currently in PNG are inadequate to restore currency convertibility. For this, a real exchange rate depreciation is required instead. We develop a forex market model that features a backlog of unmet orders, which suggests that a frontloaded depreciation is preferred to an often-favored gradual adjustment. Empirical results indicate that the government's large budget deficits have contributed to the forex shortage, which highlight the need for greater fiscal restraint. In the longer term, we argue for more exchange rate flexibility and forex allocation through competitive auction.
Download or read book Papua New Guinea written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-06-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papua New Guinea has seen solid economic growth over the past decade, supported by sound macroeconomic policies. This 2012 Article IV Consultation discusses that the financial sector in Papua New Guinea remains profitable and well capitalized, but vulnerabilities have increased. Executive Directors have commended the authorities for achieving macroeconomic stability and a sustainable fiscal position. To preserve these achievements and promote inclusive development, it will be important to combine steady, affordable growth in government spending with improvements in public financial management and expenditure effectiveness.
Download or read book Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Papua New Guinea written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2014-12-02 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that Papua New Guinea’s economy is experiencing an important transition, as new liquefied natural gas (LNG) production and exports commence. With LNG production and exports now starting, resource sector growth is projected to surge in 2015, but spillovers to the rest of the economy may be more limited. Inflation has moderated from its peaks during the construction boom and is likely to remain reasonably low given the global outlook for commodity prices. The ongoing economic transition calls for adjustment of macroeconomic policies to safeguard macrofinancial stability.
Download or read book Annual Report on Exchange Arrangements and Exchange Restrictions 2013 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-12-15 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on the operation of foreign exchange markets and controls on international trade. It describes controls on capital transactions and measures implemented in the financial sector, including prudential measures. In addition, it reports on exchange measures imposed by member countries for security reasons. A single table provides a snapshot of the exchange and trade systems of all IMF member countries. The Overview describes in detail how the general trend toward foreign exchange liberalization continued during 2012, alongside a strengthening of the financial sector regulatory framework. The AREAER is available in several formats. The Overview in print and online, and the detailed information for each of the 191 member countries and territories is included on a CD that accompanies the printed Overview and in an online database, AREAER Online. In addition to the information on the exchange and trade system of IMF member countries in 2012, AREAER Online contains historical data published in previous issues of the AREAER. It is searchable by year, country, and category of measure and allows cross country comparisons for time series.
Download or read book Real Exchange Rates Devaluation and Adjustment written by Chief Economist Latin America and Caribbean Region Sebastian Edwards and published by . This book was released on 1989-08-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Exchange Rates, Devaluation, and Adjustment provides a unified theoretical and empirical investigation of exchange rate policy and performance in scores of developing countries. It develops a theory of equilibrium and disequilibrium real exchange rates, takes up the question of why devaluations are the most controversial policy measures in poorer nations, and discusses what determines their success or failure. In a lucid fashion, Edwards organizes vast amounts of data on exchange rates - both real and nominal - and discusses their effect on net trade balances, net asset positions, output growth, real wages, and rates of price inflation, analyzed both in time series and through cross country comparisons. Edwards's investigation singles out 39 major devaluation episodes for before and after comparative analyses while simultaneously isolating the separate effects of other important explanatory variables, such as bank credit expansion and changes in the terms of trade. The first part of the book focuses on theoretical models of devaluation and real exchange rate behavior in less developed countries. Special attention is paid to intertemporal channels in the transmission of disturbances. The second part uses a large cross country data set to analyze the way the real exchange rate has behaved in these nations. The data are also used to test the implications of several theories of real exchange rate determination. The third part analyzes actual devaluation experiences between 1962 and 1982. These chapters examine the events leading to a balance of payments crisis and to a devaluation, exploring the relation between macroeconomic disequilibrium, and the imposition of trade and exchange controls. They also investigate the effect of nominal devaluation on key variables such as the balance of payments, the current account, the real exchange rate, real output real wages, and income distribution.
Download or read book Review Analysis and Outlook written by World Bank and published by World Bank Publications. This book was released on 2006-01-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International private capital flows to developing countries reached a record net level of $491 billion in 2005. This surge in private capital flows offers national and international policy makers a major opportunity to bolster development efforts if they can successfully meet three challenges. The first is to ensure that more countries, especially poorer ones, enhance their access to developmentally beneficial international capital through improvements in their macroeconomic performance, investment climate, and use of aid. The second is to avoid sudden capital flow reversals by redressing global imbalances through policies that recognize the growing interdependencies between developed and developing countries' financial and exchange rate relations in the determination of global financial liquidity and asset price movements. And the third is to ensure that development finance, both official and private, is managed judiciously to meet the development goals of recipient countries while promoting greater engagement with global financial markets. These are the themes and concerns of this year's edition of Global Development Finance. Vol I. Anlaysis and Statistical Appendix reviews recent trends in financial flows to developing countries. Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups."
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.
Download or read book Estimating Equilibrium Exchange Rates written by John Williamson and published by Peterson Institute. This book was released on 1994 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the Group of Five industrial countries adopted a system of reference ranges for exchange rate management, influenced by proposals of C. Fred Bergstan and John Williamson for a target zone system. The reference range approach has, however, been operated only intermittently and half-heartedly, and questions continue to be raised in policy and scholarly circles about the design and operation of a full-fledged target zone regime. This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.
