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This paper has examined Papua New Guinea's historical economic growth patterns through a simple growth accounting framework. The analysis shows that swings in growth are mostly accounted for by a significant slowdown in capital input and lower Total Factor Productivity (TFP) growth. It also suggests that raising real GDP growth will require increases in both investment levels and productivity. With a ratio of investment to GDP of 13 percent during the last decade, significantly higher productivity growth and investment will be needed to sustain GDP growth rates at 5 percent or higher. The historical performance also indicates that, in the absence of structural reforms and strong institutions, higher rates of productivity growth will be hard to achieve.

Electronic books. -- local. --- Gross domestic product -- Papua New Guinea. --- Papua New Guinea -- Economic conditions. --- Business & Economics --- Economic History --- Gross domestic product --- Papua New Guinea --- Economic conditions. --- Domestic product, Gross --- GDP --- Gross national product --- Macroeconomics --- Production and Operations Management --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Macroeconomics: Production --- Labor Economics: General --- Accounting --- Labour --- income economics --- Economic growth --- Total factor productivity --- Productivity --- Labor --- Growth accounting --- Production growth --- Industrial productivity --- Labor economics --- Economic development --- Economic theory

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This paper analyzes the sources of Mexico's economic growth since the 1960s and compares various decompositions of historical growth into its trend and cyclical components. The role of the implied output gaps in the inflationary process is then assessed. Looking ahead, the paper presents medium-term paths for GDP based on alternative assumptions for productivity growth rates. The results indicate that the most important factor underlying the slowdown in output growth was a decline in trend total factor productivity growth. Economic policy reforms and the introduction of NAFTA may have raised trend productivity growth in recent years. Further increases in productivity growth would appear necessary, however, to raise medium-term growth.

Capital productivity -- Mexico. --- Electronic books. -- local. --- Gross domestic product -- Mexico. --- Inflation (Finance) -- Mexico. --- Inflation --- Macroeconomics --- Production and Operations Management --- Macroeconomics: Production --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Price Level --- Deflation --- Total factor productivity --- Output gap --- Potential output --- Production growth --- Economic theory --- Industrial productivity --- Prices --- Mexico --- Gross domestic product --- Inflation (Finance) --- Capital productivity