This paper examines and tests the existence of political budget cycles in Papua New Guinea during the period 1988–2004. Several factors point to the existence of political budget cycles in Papua New Guinea. The paper provides an overview of the political business cycle literature, and Papua New Guinea’s political structure and processes. It also describes the data set and the empirical methods used to test for the presence of election-influenced spending, and presents the results of a time-series analysis.
This report discusses the IMF estimates and projections of the Republic of Equatorial Guinea's central government financial operations, 2001–06; the tax system as of march 2007; public investment program during 2004–06 (execution) and 2007–08 (budgeted); monetary survey during 2001–06; details of central bank and commercial bank assets during 2001–06; fiscal indicators during 2001–06; and estimates on public debts during 2001–06, etc.
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.