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Effects on the PNG Economy of a Major LNG Project

Dixon, Peter, Kauzi, Gae and Rimmer, Maureen T (2010) Effects on the PNG Economy of a Major LNG Project. Economic Papers, 29 (2). pp. 143-155. ISSN 0812-0439 (print) 1759-3441 (online)

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Abstract

ExxonMobil is undertaking an LNG project in Papua New Guinea (PNG) with setup expenditures in 2010–2012 of $A12 billion and annual export revenue averaging $A4 billion (2010 prices) over 2013–2042. These are huge numbers relative to PNG’s GDP and exports ($A10 billion and $A6 billion in 2010). This paper uses a dynamic computable general equilibrium (CGE) model to estimate impacts in PNG on consumption, sectoral outputs, wages, trade and the real exchange rate under three macroeconomic management scenarios. The Project offers significant benefits but figures on Project size give an exaggerated impression. The focus should be on the use of PNG factors of production and revenues flowing to the government.

Item Type: Article
Uncontrolled Keywords: CGE analysis, LNG project, PNG economy
Subjects: FOR Classification > 1402 Applied Economics
FOR Classification > 1502 Banking, Finance and Investment
Faculty/School/Research Centre/Department > College of Business
Faculty/School/Research Centre/Department > Centre of Policy Studies (CoPS)
Depositing User: Ms Julie Gardner
Date Deposited: 13 Apr 2014 23:59
Last Modified: 04 Oct 2015 23:54
URI: http://vuir.vu.edu.au/id/eprint/24664
DOI: https://doi.org/10.1111/j.1759-3441.2010.00061.x
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