ABSTRACT
This conclusion presents some closing thoughts on the concepts covered in the preceding chapters of this book. The book aims to investigate the impact of resources booms in Papua New Guinea (PNG) during the period 1970-94 and the effect of the government's policy response to these booms on the process of economic adjustment. It also aims to investigate the impact of resources booms on the sectoral composition of output, and savings and investment behaviour. The book reviews the booming sector's literature and discusses the analytical framework. It provides the key economic relations to provide the empirical base for the analysis. The book also provides an econometric analysis of the determinants of the real exchange rate in PNG using the General to Specific Modelling procedure. It also discusses the major resources booms experienced by PNG, and the changes in key macroeconomic variables and their impact on the structure of the economy during 1970-94 period.
