{
  "title": "Growth and Productivity in Papua New Guinea",
  "publication": "IMF Working Papers, May 1, 2006",
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  "summary": "This paper has examined Papua New Guinea's historical economic growth patterns through a simple growth accounting framework. The analysis shows that swings in growth are mostly accounted for by a significant slowdown in capital input and lower Total Factor Productivity (TFP) growth.",
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    {
      "heading": "Summary and main findings",
      "content": "- The paper examines Papua New Guinea's historical economic growth patterns through a simple growth accounting framework.\n- Swings in growth are mostly accounted for by:\n  - a significant slowdown in capital input; and\n  - lower Total Factor Productivity (TFP) growth.\n- Raising real GDP growth will require increases in both investment levels and productivity.\n- With a ratio of investment to GDP of 13 percent during the last decade, significantly higher productivity growth and investment will be needed to sustain GDP growth rates at 5 percent or higher.\n- Historical performance indicates that, in the absence of structural reforms and strong institutions, higher rates of productivity growth will be hard to achieve."
    },
    {
      "heading": "Policy implications and analysis",
      "content": "- Achieving and sustaining higher real GDP growth implies simultaneous policy focus on:\n  - raising the investment-to-GDP ratio above the historical 13 percent; and\n  - implementing structural reforms to boost TFP growth.\n- Strengthening institutions is highlighted as necessary to enable higher productivity growth.\n\n---\n\n Content in this bundle\n\n- Growth and Productivity in Papua New Guinea; Ebrima Faal; IMF Working Paper 06/113; May 1, 2006\n  - Growth and Productivity in Papua New Guinea; Ebrima Faal; IMF Working Paper 06/113; May 1, 2006 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Growth and Productivity in Papua New Guinea; Ebrima Faal; IMF Working Paper 06/113; May 1, 2006 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/growth-and-productivity-in-papua-new-guinea-19013"
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    "Authors: Ebrima A Faal",
    "Published: May 1, 2006",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451863734.001",
    "The paper examines Papua New Guinea's historical economic growth patterns through a simple growth accounting framework.",
    "Swings in growth are mostly accounted for by:",
    "Raising real GDP growth will require increases in both investment levels and productivity.",
    "With a ratio of investment to GDP of 13 percent during the last decade, significantly higher productivity growth and investment will be needed to sustain GDP growth rates at 5 percent or higher.",
    "Historical performance indicates that, in the absence of structural reforms and strong institutions, higher rates of productivity growth will be hard to achieve.",
    "Achieving and sustaining higher real GDP growth implies simultaneous policy focus on:",
    "Strengthening institutions is highlighted as necessary to enable higher productivity growth.",
    "**Growth and Productivity in Papua New Guinea; Ebrima Faal; IMF Working Paper 06/113; May 1, 2006**"
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