Exploiting comparative advantage in agriculture and resources: the way forward for small island states

Mahadevan, Renuka and Asafu-Adjaye, John (2013) Exploiting comparative advantage in agriculture and resources: the way forward for small island states. Australian Journal of Agricultural and Resource Economics, 57 3: 320-343. doi:10.1111/j.1467-8489.2012.00618.x


Author Mahadevan, Renuka
Asafu-Adjaye, John
Title Exploiting comparative advantage in agriculture and resources: the way forward for small island states
Journal name Australian Journal of Agricultural and Resource Economics   Check publisher's open access policy
ISSN 1364-985X
1467-8489
Publication date 2013-07-01
Sub-type Article (original research)
DOI 10.1111/j.1467-8489.2012.00618.x
Volume 57
Issue 3
Start page 320
End page 343
Total pages 24
Place of publication Australia
Publisher Wiley-Blackwell Publishing Asia
Language eng
Formatted abstract
Using Papua New Guinea as a case study, this paper investigates the macroeconomic and sectoral impacts of various developments in its agricultural and resource sector. It was found that commodity booms from 2004 to 2009 and the proposed large liquefied natural gas project increase output growth substantially but with Dutch disease consequences. The output expansion of the agricultural and fishery sectors on the other hand has limited positive impacts and the challenge lies in raising the productivity growth in these sectors and the better use of foreign aid. Lastly, the optimal policy strategy for sustainable development in the agricultural, fishery and resource sectors lies in the packaging of appropriate complementary policies (both institutional and economic) that support one another and the coherent implementation of these policies in a timely manner.
Keyword Agriculture
Commodity prices
Computable general equilibrium model
Papua New Guinea
Papua-New-Guinea
Pacific
Countries
Growth
Aid
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2014 Collection
School of Economics Publications
 
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