Publication:
Papua New Guinea Country Economic Memorandum: Pathways to Faster and More Inclusive Growth

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-07-13T14:23:04Z
dc.date.available2023-07-13T14:23:04Z
dc.date.issued2023-07-13
dc.description.abstractThe Country Economic Memorandum (CEM) focuses on long-term growth, outlining the challenges Papua New Guinea (PNG) faces to achieve sufficient economic growth to expand the incomes of its rapidly growing population as well as what is required for PNG to make the transition to a higher, more stable, and more inclusive growth path. PNG’s modest headline economic growth has translated into limited per capita income growth in the past four decades. While the economy expanded by 3.2 percent on average during 1980-2021, per capita gross domestic product (GDP) recorded an average annual growth rate of only 0.9 percent. Moreover, the gap between PNG’s per capita income level and those of its peer countries has widened. Despite being at a similar level of development in the 1970s and having enormous natural wealth, PNG’s income level is diverging away from the East Asia and Pacific (EAP) region. This calls for a renewed policy focus on boosting economic growth, by addressing PNG’s excessive macroeconomic volatility, low productivity growth, and high reliance on natural capital as opposed to human and physical capital.en
dc.identifierhttp://documents.worldbank.org/curated/en/099071123014548484/P177699031efc909308fc9084dafea9834f
dc.identifier.doi10.1596/39995
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39995
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectINCLUSIVE GROWTH
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectVOLATILITY
dc.subjectPRODUCTIVITY
dc.subjectHUMAN CAPITAL
dc.titlePapua New Guinea Country Economic Memorandumen
dc.title.subtitlePathways to Faster and More Inclusive Growthen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titlePapua New Guinea Country Economic Memorandum: Pathways to Faster and More Inclusive Growth
okr.date.disclosure2023-07-13
okr.date.lastmodified2023-07-11T00:00:00Zen
okr.doctypeCountry Economic Memorandum
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099071123014548484/P177699031efc909308fc9084dafea9834f
okr.guid099071123014548484
okr.identifier.docmidP177699-31efc9a7-b983-4c93-8fc9-84dafea9834f
okr.identifier.doihttp://dx.doi.org/10.1596/39995
okr.identifier.externaldocumentum34115558
okr.identifier.internaldocumentum34115558
okr.identifier.report183948
okr.import.id1093
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099071123014548484/pdf/P177699031efc909308fc9084dafea9834f.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPapua New Guinea
okr.sectorOther Industry, Trade and Services
okr.themeMacroeconomic & Structural Policy Modelling,Gender,Human Development and Gender,Economic Policy,Skills Development,Economic Growth and Planning,Labor Market Policy and Programs
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitEFI-EAP-MTI-MacroFiscal-2 (EEAM2)
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