External Adjustment in a Resource Rich Economy The Case of Papua New Guinea is popular PDF and ePub book, written by Ryota Nakatani in 2017-12-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, External Adjustment in a Resource Rich Economy The Case of Papua New Guinea can be Read Online from any device for your convenience.
External Adjustment in a Resource Rich Economy The Case of Papua New Guinea Book PDF Summary
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.
Detail Book of External Adjustment in a Resource Rich Economy The Case of Papua New Guinea PDF
- Author : Ryota Nakatani
- Release : 01 December 2017
- Publisher : International Monetary Fund
- ISBN : 9781484331835
- Genre : Business & Economics
- Total Page : 36 pages
- Language : English
- PDF File Size : 13,5 Mb
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