Year | Mining exports | Agricultural exports | Non–mining exports | Total exports* |
|
||||
1971 | 0.62 | 53.24 | 67.50 | 89.67 |
1972 | 19.40 | 43.09 | 58.72 | 106.85 |
1973 | 88.62 | 37.66 | 51.73 | 160.72 |
1974 | 216.32 | 68.66 | 100.53 | 333.75 |
1975 | 182.48 | 99.71 | 123.50 | 321.86 |
1976 | 159.11 | 82.32 | 101.91 | 287.32 |
1977 | 147.26 | 227.52 | 267.89 | 438.37 |
1978 | 164.65 | 148.18 | 189.36 | 400.16 |
1979 | 254.96 | 196.32 | 243.39 | 538.75 |
1980 | 216.01 | 154.30 | 214.00 | 471.81 |
1981 | 201.40 | 110.62 | 164.89 | 379.49 |
1982 | 224.29 | 121.58 | 180.12 | 422.84 |
1983 | 309.67 | 192.15 | 245.10 | 570.54 |
1984 | 290.85 | 338.73 | 420.35 | 731.58 |
1985 | 489.90 | 330.20 | 409.60 | 926.20 |
1986 | 544.36 | 321.94 | 402.07 | 970.78 |
1987 | 650.56 | 244.70 | 355.63 | 1022.11 |
1988 | 749.51 | 222.02 | 313.37 | 1092.72 |
1989 | 601.73 | 240.39 | 333.22 | 989.32 |
1990 | 727.20 | 196.42 | 280.70 | 1077.50 |
1991 | 955.04 | 194.37 | 289.94 | 1320.98 |
1992 | 1330.36 | 369.57 | 475.79 | 1806.72 |
1993 | 1732.44 | 674.24 | 744.02 | 2476.46 |
1994 | 1693.85 | 836.00 | 854.05 | 2547.90 |
1995 | 1837.51 | 379.06 | 348.58 | 2565.15 |
1996 | 1695.35 | 437.02 | 370.63 | 2502.99 |
1997 | 1281.90 | 541.79 | 309.65 | 2132.64 |
1998 | 1190.74 | 495.41 | 104.60 | 1790.75 |
1999 | 1382.11 | 456.91 | 116.21 | 1955.23 |
2000 | 1628.39 | 346.18 | 120.09 | 2098.66 |
Notes: *Some total export entries are not equal to the sum of mining exports and non–mining exports because of omission of other minor export items and re–exports.
Source: Constructed from Bank of Papua New Guinea, Quarterly Economic Bulletin (various issues), AusAID (1996).
Variables | Data series | DF/ADF Statistics Ho: I(1) versus Ha: I(0) |
|
||
Real income (real GDP) | Y | −2.25(1) |
Trade-weighted real exchange rate | RER1 | −4.25(0)* |
Real exchange rate defined as EPI/CPI | RER2 | −3.31(0)* |
Real exchange rate defined as IPI/CPI | RER3 | −2.27(0) |
Nominal effective exchange rate | NEER | −1.37(0) |
External terms of trade | TOT | −3.41(0)* |
Openness of trade regime | OP | −1.65(0) |
Money supply | MS | −2.09(0) |
Government expenditure to GDP | GEX | 1.00(0) |
Gross investment to GDP | GIY | −4.45(0)* |
Lag net long-term capital inflow | NKI | −2.64(0) |
Foreign aid flow | AID | −14.49(0)* |
Nominal devaluation | NDEV | −96.36(0)* |
Note: The critical value of null hypothesis of nonstationarity at the 10-per-cent level is−3.13 with total number of observation n = 23.
The null hypothesis of rejecting there is no serial correlation lies outside 1.54<d<2.46.
The null hypothesis of rejecting there is no 1st order autocorrelation lies outside −1.96<h<1.96.
*indicates the rejection of null hypothesis. Figures in parentheses indicate the number of lags on the differenced variable used in the auxiliary regression to achieve residual whiteness.
Variables | Data series | DF/ADF Statistics Ho: I(1) versus Ha: I(0) |
|
||
Per capita GDP | PCY | −1.62(1) |
Financial Institutional development | FD | −83.62(0)* |
Non-mining GDP | NMY | −1.69(1) |
Domestic absorption | DA | −3.16(0)* |
Government consumption | GC | −1.97(1) |
Gross investment to GDP | GIY | −4.45(0)* |
Net official transfers | OT | −3.14(0)* |
Consumer price index | CPI | −1.25(1) |
GDP deflator | DEF | −1.72(1) |
Nontradable price index | PNT | −2.50(0) |
Agricultural value added | AVA | −2.77(0) |
Manufacturing value added | MVA | −2.54(0) |
Nontradable sector | NT | −3.89(0)* |
Construction sector | CONS | −3.20(0)* |
Gross domestic savings | RDS | −1.85(0) |
Private savings | PS | −2.52(0) |
Foreign savings | FS | −4.12(0)* |
Real interest rate | RIR | −2.06(0) |
Expected rate of inflation | INF | −3.73(0)* |
Note: The critical value of null hypothesis of nonstationarity at the 10-per-cent level is −3.13 with total number of observation n = 23.
The null hypothesis of rejecting there is no serial correlation lies outside 1.54<d<2.46.
The null hypothesis of rejecting there is no 1st order autocorrelation lies outside −1.96<h<1.96.
*indicates the rejection of null hypothesis. Figures in parentheses indicate the number of lags on the differenced variable used in the auxiliary regression to achieve residual whiteness.
3.138.116.20