How Long to Read External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea

How Long Does it Take to Read External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea?

It takes the average reader and 36 minutes to read External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea by Ryota Nakatani

Assuming a reading speed of 250 words per minute. Learn more

Description

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.

How long is External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea?

External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea by Ryota Nakatani is 36 pages long, and a total of 9,216 words.

This makes it 12% the length of the average book. It also has 11% more words than the average book.

How Long Does it Take to Read External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 50 minutes to read External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea aloud.

What Reading Level is External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea?

External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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