Papua New Guinea ( Png ) : The Quest For Development

Economic growth comes form the use of natural resources. In the 1930’s, natural resources are what fueled the growth of the U.S. economy. The use of resources such as water, timber, coal, oil, and minerals were in very high demand. Even now there is still a market for these resources. The use of natural resources was very high in the 1930’s and the possible damage that the use of these resources was of little concern, or not even known at the time. In the 1930s the growth of the U.S. economy would become a burden due to the use of natural resources, how the resources were collected and extracted, and the impact that harvesting had on the environment. The main point of this article, is that the mass consumption and mass production is not always ideal.

Economic development can be defined generally as involving an improvement in economic welfare, measured using a variety of indices, such as the Human Development Index (HDI). A developing country is described as a nation with a lower standard of living, underdeveloped industrial base, and a low HDI relative to other countries. There are several factors which may have the effect of limiting economic development in such countries. Factors such as these include: primary product dependency, the savings gap and political instability.

Similar to the societal explanation, the cognitive explanation for the effects of the resource curse suggests that the wealth from resource abundance causes countries to be riskier with their money. Instead of investing in multiple sectors and foreign bonds, African countries tend to indulge in the wealth and focus solely upon it with no consideration of sustainability or possible busts. Since policymakers become shortsighted, they do not realize that that their economy is falling apart until it is too late.

A nation can import the resource from another nation however this will only increase output till that runs out. Therefore, growth is limited by the fact that the finite resources of Earth are not limitless.

According to the Merriam Webster dictionary, the word ‘geography’ is defined as “a science that deals with the description, distribution, and interaction of the diverse physical, biological, and cultural features of the earth's surface.” This simple word with its inquisitive definition were the answer to Papua New Guinea native, Yalle’s question for Dr. Jared Diamond on the success of white people. Papua New Guinea is a country in the Pacific that has existed for over 40,000 years. Jared Diamond has spent many months with the natives, learning their way of life but has never understood why the people have not been as successful as the Europeans were. Yalle had the same question for Diamond. At first when Diamond was faced with this thought-provoking

For instance, most of the developments in the developed countries are based on growth, that is, they are depend on natural resources like minerals, gas and oil for their economic development. Moreover, the emerging developing countries such as India, china and brazil need a lot of natural resources to develop. This means that countries which are rich in resources in Latin America have emphasized and focused on the extraction of natural resources for their development and export. Neo extractivisim has been coined to refer to policies and regulations which strengthen states role in the ownership and exploitation of natural resources, a development which has gained great momentum inmost parts of the developing nations (Burchardt, Hans-Jürgen, and Kristina, 2014). Extractivisims is a development model that has political, natural and socioeconomic influences (class structure, interaction between public and state and gender) within a country majorly in countries with abundant resources in the

Every country is in need of certain of if not many resources to move its economy and feed its citizens. This goes back to the early centuries of 1970’s.

Reducing inequality determines the capability of the state to manage resources and conflicts. The government can organise geographic distribution of income. This measure ensures the balance distribution of wealth across regions and helps reduce inequality. It also answers the challenge for balancing the growth between minerals sector and non-mineral sector. Moreover, this tool assists the local government and community to take advantage from resource revenues (Ross 2007). By doing so, the government is not only reducing inequality, but also the risk of

Economic growth, put simply, is “an increase in the amount of goods and services produced per head of the population over a period of time”; development is inextricably linked with this economic growth. By utilising theories of economic growth and development we can see how the Chinese and Sub-Saharan African economies have emerged, but, more notably, we can use these to look at patterns from past and present to show their experience and the implications of this growth for the future.

Economic development can be defined generally as involving an improvement in economic welfare, measured using a variety of indices, such as the Human Development Index (HDI). A developing country is described as a nation with a lower standard of living, underdeveloped industrial base, and a low HDI relative to other countries. There are several factors which may have the effect of limiting economic development in such countries. Factors such as these include: primary product dependency, the savings gap and political instability.

Philippines is an archipelago located in Southeast Asia near the equator. The Philippine archipelago consists of 7,107 islands divided into three major groups of islands which is Luzon, Visayas and Mindanao. As of 2016 the Philippine population is estimated to about 102,624,209 (World Fact Book). The Philippine nationality is termed Filipino and its population is made up of various ethnic groups. The national language is called Tagalog, it also the name of the major ethnic group of the country. According to Philippine Statistic Authority the population of urban area accounts for 45.3% of the country’s total population (Urban-Rural Classification). In contrast, the population in rural area is comprised of 54.7% and considered to be the majority population of the entire country. The Philippine climate is predominantly tropical marine where wet season occurs from November to April and is caused by the northeast monsoon. Similarly, the second set of rainy season, is caused by the southwest monsoon during May to October (World Fact Book). Additionally, the Philippine economy has been relatively resilient to global economic struggles because the country is less exposed to troubled international securities. The lower dependence on exports is what makes the country relatively resilient, relying only domestic products, as well as large remittances from millions of migrant and overseas Filipino workers (World Fact Book). The existing account balance has

The concept of ‘sustainable development’ is one that has faced heated debates for decades now. A seemingly harmless concept, it raises a lot of questions as to what it really entails and how exactly it can be achieved. But with more than 1.3 billion people living in abject poverty (less than $1.25 a day), and with a reported 22,000 children dying every day as a result of poverty (UNICEF), the debate for Sustainable Development becomes interesting as it questions the extremity of economic growth policies, in the war against poverty. Many note economic growth and development as the only tool for poverty alleviation. Roemer and Gugerty, for example, report that GDP growth of 10% per year is associated with income growth of 10% for the poorest 40% of the population. However, others question the extent to which economic growth should be put above other socio-economic factors. Lele points out that the focus on economic growth has led to important ecological and social sustainability, taking the backseat. He argues that due to strong emphasis on economic growth, not enough attention is paid to social equity, and economic stability within the development discourse.

Approximately 100 miles (160km) north of Australia, situates the second largest island in the south pacific called Papua New Guinea; occupying the eastern half of the rugged tropical island of New Guinea and some 700 offshore islands. With its comparative area size slightly larger than California, Papua New Guinea is about 287,595 miles in total area, of which 281,394 miles is land and 6,201 miles is water and accumulative of 3,201 miles of coastline. The central part of the island is composed of the Highlands, a chain of mountains and river valleys which run the whole length of the island and majority of its land covered in condense tropical rainforest. The name Papuan New Guinea derives from the Malay word papuwah meaning “fuzzy hair” and New Guinea from the origin of the land settlement. Papua New Guinea’s diversity relies greatly upon its geographical location, historical of settlers, resent society practices and the numerous adopted lifestyles.

This can be measured by the following formula; Per capita nominal GDP = Nominal GDP / Population, Per capita real GDP = Real GDP / Population. Seven factors determine economic growth. Natural resources such as land, mineral deposits, waterways; climatic conditions provide an essential foundation to economic growth. Combined with the other resources of capital, labor and enterprises, natural resources can be developed and organized to increase the productive capacity if the nation. Consequently the quality and size of the labor force is a major determinant of economic growth. Education and vocational training are essential the growth potential of a nation. The promotion of education and job training schemes increase the knowledge, skills and flexibility of the workforce that contributes to potentially higher levels of productivity and efficiency. Whether from natural increase or immigration population growth can cause a higher level of economic growth. An increasing population requires increased public spending on housing, education and other social needs while businesses expectations of

Economic Growth refers to a nation’s outputs of goods and services over time. It is measured in terms of Gross Domestic Product (GDP) which is a valuation of a country’s total production in a year. In 2007-08, Australia had a GDP growth rate of 3.7%. By 2012, this growth rate had dropped to 3.1% despite the 20 years of continual economic growth in Australia averaging 3.5% up until 2012. Recent economic growth has been largely supported during the global resources boom where there was strong demand and increasing commodity prices of Australia’s mineral resources such as iron ore, coal, aluminium, copper and zinc. However, even though Australia has a very dynamic and developed economy there are still