Papua New Guinea - an Emerging Economy in the South Pacific: Challenges and Prospects

HANDBOOK OF BUSINESS PRACTICES AND GROWTH IN EMERGING MARKETS

Posted: 22 Oct 2009

See all articles by Ravinder Rena

Ravinder Rena

Papua New Guinea University of Technology; Polytechnic of Namibia; University of the Western Cape; North-West University; Papua New Guinea University of Technology

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Date Written: October 22, 2009

Abstract

Papua New Guinea (PNG) is the largest and most populated of all the Pacific Island countries. It is a developing nation with 15% of the population engaged in market economy and the remaining 85% of people engaged in farming. A prudent macroeconomic policy and favorable terms of trade trends have helped PNG maintain macroeconomic stability, strong external balances, and solid economic growth over the past five years. The country, however, faces difficult development challenges, including weaknesses in governance, infrastructure, human development, the business climate, public financial management, security, and service delivery. Despite the challenges, the PNG economy has been performing well for the last few years. This chapter examines the challeges in the economy and explores the prospects that exist for the future development of countries economy. This chapter also delves into the recent economic trends of PNG.

Keywords: Emerging Markets, Growth, Business Practices, International Business, International Marketing, Developing Country, Transitional Economies

Suggested Citation

Rena, Ravinder, Papua New Guinea - an Emerging Economy in the South Pacific: Challenges and Prospects (October 22, 2009). HANDBOOK OF BUSINESS PRACTICES AND GROWTH IN EMERGING MARKETS. Available at SSRN: https://ssrn.com/abstract=1511430

Ravinder Rena (Contact Author)

Papua New Guinea University of Technology ( email )

Private Mail Bag 411
Lae, Morobe 411
Papua New Guinea

HOME PAGE: http://www.unitech.ac.pg

Polytechnic of Namibia ( email )

13 Storch Street
Private Bag 13388
Windhoek, Khomas 13388
Namibia

HOME PAGE: http://www.polytechnic.edu.na

University of the Western Cape ( email )

Private Bag X 17
Economics, Faculty of Economic and Management Scie
Bellville, Western Cape 7535
South Africa
0027219593624 (Phone)
0027219593201 (Fax)

HOME PAGE: http://www.uwc.ac.za

North-West University ( email )

Hoffman Street
Potchefstroom, 2520
South Africa

HOME PAGE: http://www.nwu.ac.za

Papua New Guinea University of Technology ( email )

Private Mail Bag 411
Lae, Morobe 411
Papua New Guinea

HOME PAGE: http://www.unitech.ac.pg

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