8 Conclusion

8.1 Introduction

The objective of this study is to investigate the impact of resources booms in Papua New Guinea (PNG) during the period 1970-94 and the effect of the government’s policy response to these booms on the process of economic adjustment. The major emphasis is on how the real exchange rate responds both to the shocks and to the different policy measures undertaken by the government. The study continues to investigate the impact of resources booms on the sectoral composition of output, and savings and investment behaviour. Finally, a comparative study of policy responses to resources booms in PNG, Indonesia and Nigeria between 1973 and 1982 is undertaken to investigate the diverse outcomes of these booms and reasons underlying ...

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