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Macroeconomic crisis and structural reforms in Papua New Guinea

Mawuli, Agogo


Papua New Guinea enjoyed sound macroeconomic stability prior to the 1990s, however, in the past six years, this stability has been derailed twice. The first was caused by the closure of the Bougainville Copper Mine in 1989, and the second appeared to be a loss of control of fiscal management 1994. In each case, the macroeconomic policy response was quick and decisive and orthodox austerity measures were put in place to reduce the aggregate demand. <p> The years 1994 and 1995 were difficult for...[Show more]

CollectionsANU Research Publications
Date published: 1997
Type: Working/Technical Paper


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