An Analysis of Effective Exchange Rate Changes in Papua New Guinea PDF Download
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Author: P. A. S. Dahanayake
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 58
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Book Description
Author: P. A. S. Dahanayake
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 58
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Book Description
Author: John Fallon
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 156
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Book Description
Author: Mamta B. Chowdhury
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 42
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Book Description
Author: Ravinder Rena
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
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.
Author: Desh Gupta
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 78
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Book Description
Author: Tom J. Valentine
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 34
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Book Description
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451831771
Category :
Languages : en
Pages : 40
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Book Description
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.
Author: Ryota Nakatani
Publisher: International Monetary Fund
ISBN: 1484325060
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
How should resource-rich economies handle the balance of payments adjustment required after commodity price declines? This paper addresses the question theoretically by developing a simple two-period multi-sector model based on Nakatani (2016) to compare different exchange rate policies, and empirically by estimating elasticities of imports and commodity exports with respect to exchange rates using Papua New Guinean data. In the empirical part, using various econometric methods, I find the statistically significant elasticities of commodity exports to real exchange rates. In the theoretical part, by introducing the notion of a shadow exchange rate premium, I show how the rationing of foreign exchange reduces consumer welfare. Using the estimated elasticities and theoretical outcomes, I further discuss policy implications for resource-rich countries with a focus on Papua New Guinea.
Author: Ross Garnaut
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
Author: Schmidt, Emily
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 7
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Book Description
The onset of the COVID-19 pandemic has presented a unique challenge to governments across the globe, reinforcing the need to improve understanding of domestic and international trade trends to provide more informed options for policy response. Papua New Guinea’s growing international trade in food and other agricultural products will continue to be important to overall food security outcomes among rural and urban households in the country. Rural households that produce key export cash-crops, such as coffee, cocoa, or palm oil, depend on the cash economy to supplement their food consumption, while urban households depend on rice and other agri-food imports, as well as domestic goods, for consumption. This project note focuses on trends in agrifood imports and exports during the last two decades to better evaluate potential changes in import demand and export potential for PNG. In doing so, it informs an upcoming economy-wide multi-market model analysis that will evaluate a variety of potential shocks to PNG’s agri-food system on household welfare in order to identify policies to manage potential food security threats. The COVID-19 pandemic is one of many diverse shocks that may adversely affect the economy of PNG over the next decade. The expansion of a portfolio of organized databases, analytical tools, and policy resources, such as the multimarket model, is warranted to facilitate real-time policy analyses to inform key development investments and initiatives.
