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Work began in November 1986 on the construction of Yonki Dam in the Eastern Highlands Province of Papua New Guinea. By the time it is commissioned in 1990 the project is expected to cost about US$75 million in constant 1984 prices, making... more
Work began in November 1986 on the construction of Yonki Dam in the Eastern Highlands Province of Papua New Guinea. By the time it is commissioned in 1990 the project is expected to cost about US$75 million in constant 1984 prices, making it the largest public sector project ever undertaken in Papua New Guinea. This paper describes how the decision
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This paper challenges the view that there is little economic, as opposed to political, justification for the prevalence of government price controls in poor countries. It is shown how appropriate price control measures in the highly... more
This paper challenges the view that there is little economic, as opposed to political, justification for the prevalence of government price controls in poor countries. It is shown how appropriate price control measures in the highly monopolistic conditions characteristic of the manufacturing sector of poor countries can contribute towards improved economic efficiency in that sector by inducing monopolist manufacturers both to increase their level of production and to cut their production costs. The role of price control in income redistribution is also discussed.
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Research Interests: Business and New Guinea
In August 2004 I presented a paper titled ‘Malawi’s Fiscal Crisis – a Donor Perspective’ which looked at the fiscal situation inherited by the new government. The paper pointed out that the previous government’s failure to control... more
In August 2004 I presented a paper titled ‘Malawi’s Fiscal Crisis – a Donor Perspective’ which looked at the fiscal situation inherited by the new government. The paper pointed out that the previous government’s failure to control expenditure had led to the accumulation since 2001 of a dangerously large domestic debt and the loss of government control over its Budget. As a result, Malawi faced a fiscal crisis with disturbing implications for macroeconomic stability, investment, financing of public services and poverty reduction. The crisis could only be overcome with substantial financial support from the international community. However, Malawi’s international reputation for economic mismanagement was so bad that it would be difficult persuading donors to assist.