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Papua New Guinea: Selected Issues and Statistical Appendix

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  • International Monetary Fund

Abstract

This paper analyzes the workings and effectiveness of the monetary transmission mechanism in Papua New Guinea. The paper is organized as follows: it describes the current institutional structure in Papua New Guinea; interest rate is discussed; the evidence from vector autoregression analysis on the relationship between monetary policy variables and output and prices is considered; finally, implications are included. The Bank of Papua New Guinea (BPNG) uses a reserve money framework to conduct monetary policy operations. A macroeconomic balance approach estimates the REER, which simultaneously achieves internal and external balance.

Suggested Citation

  • International Monetary Fund, 2008. "Papua New Guinea: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2008/093, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2008/093
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=21783
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    Cited by:

    1. Hilson, Gavin, 2019. "Why is there a large-scale mining ‘bias’ in sub-Saharan Africa?," Land Use Policy, Elsevier, vol. 81(C), pages 852-861.

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