{"id":6464,"date":"2019-10-19T08:30:38","date_gmt":"2019-10-18T22:30:38","guid":{"rendered":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/?p=6464"},"modified":"2024-09-19T05:05:10","modified_gmt":"2024-09-18T19:05:10","slug":"exchange-rate-volatility-and-trade-in-papua-new-guinea","status":"publish","type":"post","link":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/","title":{"rendered":"Exchange rate volatility and trade in Papua New Guinea"},"content":{"rendered":"\n<p><a href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/tag\/meson-tumsok\/\">MESON TUMSOK<\/a>, <a href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/tag\/jen-je-su\/\">JEN-JE SU<\/a>, <a href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/tag\/tarlok-singh\/\">TARLOK SINGH<\/a> AND <a href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/tag\/parmendra-sharma\/\">PARMENDRA SHARMA<\/a>  |  <\/p>\n\n\n\n<p>Since the breakdown of\nthe Bretton Woods system of fixed exchange rate in 1973, much has been said and\nwritten about the succeeding floating exchange rate regime and its consequences\non various macroeconomic outcomes such as trade. On balance, empirical evidence\nappears mixed at best, suggesting further investigations to better understand\nthe relationship. At the same time, extant literature seems to have largely\nignored the case of a region located on the West of Australia\u2014the Pacific\nIsland Countries (PICs)\u2014small, open, vulnerable, growth and poverty challenged economies.\nThe financial sectors in these economies are also small, bank-centric and not\nvery well developed; in fact, financial development has been relatively slow\nand mostly inadequate. Given their relatively small share of world trade, most\nPICs are price takers, making them vulnerable to external shocks. Moreover,\nsince the trade sector comprises a large proportion of domestic economy, shocks\nfrom world economy can have large impact on the PICs. <\/p>\n\n\n\n<p>In the case of Papua New\nGuinea (PNG), for example, to the best of our knowledge, literature is devoid\nof any scientific investigation. Yet, trade, like for most economies, remains\nparamount for the country\u2019s growth and development; the country\u2019s total trade\nvalue as at December 2017 amounted to USD 3.97 billion, representing about 66.4\npercent of the nominal Gross Domestic Product (GDP). Over the period, trade as\na share of GDP has declined, on average, from the highs of 80-90 percent in the\nearlier years. What makes PNG\u2019s, of all PIC\u2019s, case even more intriguing is\nthat it, together with Vanuatu, are among the only two PICs with a managed\nfloating rate regime. It is also the largest of the PICs; its population of 8\nmillion accounts for over 80 percent of all PICs put together and accounts for\nabout 83 percent of the region\u2019s landmass. <\/p>\n\n\n\n<p>Immediately after gaining\nindependence from Australia in 1975, PNG adopted a fixed exchange rate regime\nwith its nominal kina exchange rate pegged to a basket of currencies of its\nmajor trading partners, more importantly, Australia and the United States. The\nkina was floated in late 1994 and since then PNG has operated under a managed\nfloating exchange rate regime. In 2014, BPNG shifted to a \u2018crawl-like\u2019 exchange\nrate arrangement, a soft-peg regime, in response to a foreign exchange shortage\nand volatility in foreign exchange market price setting mechanism. The\n\u2018crawl-like\u2019 arrangement entailed a fixed trading margin of 150 basis points\nwithin which retail exchange rates can trade. While these regime shifts\neffectively reduced the volatility of nominal and real exchange rates, it\nattracted some criticisms. <\/p>\n\n\n\n<p>The foregoing scenario\nbegs the question of how have trade flows in PNG been impacted by the shift of\nexchange rate regimes. More specifically, how does real exchange rate volatility\nimpact trade flows in PNG, which forms the main issue of investigation for this\nstudy. As indicated, this is the first study to systematically do so. The paper\nextends the traditional models of trade, import and export demand, proposed by\nGoldstein &amp; Khan (1985) and Bahmani-Oskooee (1986) by including real\nexchange rate level and volatility to examine the relationship. The study\nemployes Autoregressive Distributive Lag Model (ARDL) with the intention of\nexploring both short-term and long-run relationships between the variables.\nQuarterly data was collected from various sources such as the Bank of PNG\u2019s\nQuarterly Economic Bulletin (QEBs), the IMF\u2019s International Financial\nStatistics (IFS) database, and the World Bank\u2019s World Development Indicators\n(WDI) database. The sample period span over 13 years from 1995Q1 to 2017Q4. <\/p>\n\n\n\n<p>The study finds that the\ninfluence of exchange rate volatility on trade flows is positive and\nsignificant, especially in the short term. In the long-term, trade is affected\nby factors other than exchange rate volatility such as real exchange rate and\nrelative price levels and, domestic and foreign income. An increase in real\nexchange rate level (appreciation) has a negative effect on both import and\nexport demand. An increase in domestic and foreign demand positively influences\nimport and export demand, respectively, while an increase in relative import\nand export price levels has a negative impact on the demand for imports and\nexports, respectively. <\/p>\n\n\n\n<p>Based on these findings, some policy implications may be drawn, including the following. Some degree of exchange rate volatility, especially in the short-run appears to be sound economic strategy. Since exchange rate volatility intrinsically complements a higher flexibility in the exchange rate, exchange rate flexibility may foster positive trade flows. Accordingly, there might be some merit in re-visiting direct policy measures such as the exchange rate trading margin which limits the flexibility of the exchange rate. It may also be useful to investigate other determinants of import and export demand including real exchange rate, relative import and export prices and domestic and foreign demand to enhance trade flows in PNG in the long term. Depreciation in the real exchange rate or a decline in relative export prices may also be considered. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p class=\"author label\">AUTHORS<\/p>\n\n\n\n<p><strong>Meson Tumsok<\/strong> Bank of Papua New Guinea, <strong>Jen Je Su<\/strong>, <strong>Tarlok Singh<\/strong> and   <strong>Parmendra Sharma<\/strong>, Griffith University.<\/p>\n\n\n\n<p>This&nbsp; paper was presented at the December 2018 South Pacific Central Banks\u2014Griffith University inaugural research conference in Suva.&nbsp; Key stakeholders attending the conference included Reserve Banks of Australia and New Zealand, ADB, World Bank, IMF\/PFTAC and DFAT.&nbsp; The views and opinions expressed in this study are those of the authors and do not reflect those of the Bank of Papua New Guinea or its Board.&nbsp;<\/p>\n\n\n\n<p>Please click here to read the full <a href=\"https:\/\/www.griffith.edu.au\/__data\/assets\/pdf_file\/0035\/885374\/JPRWP10-web.pdf\">&#8220;Exchange rate volatility and trade in Papua New Guinea&#8221;<\/a> working paper<\/p>\n\n\n<p><!--EndFragment--><\/p>","protected":false},"excerpt":{"rendered":"<p>MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been said and written about the succeeding floating exchange rate regime and its consequences on various macroeconomic outcomes such as trade. On balance, empirical evidence appears mixed at best,<a href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\">Continue reading <span class=\"sr-only\">&#8220;Exchange rate volatility and trade in Papua New Guinea&#8221;<\/span><\/a><\/p>\n","protected":false},"author":14,"featured_media":6466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1427,1021,248,2115],"tags":[981,303,309,2020,2019,2017,969,1050,935,2018,891,1774,707],"class_list":["post-6464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pacific-forum","category-pacific-outlook","category-png-and-the-pacific","category-working-paper","tag-associate-professor-tarlok-singh","tag-dr-jen-je-su","tag-dr-parmendra-sharma","tag-exchange-rate","tag-jen-je-su","tag-meson-tumsok","tag-pacific-islands","tag-pacific-outlook","tag-papua-new-guinea","tag-parmendra-sharma","tag-spccb","tag-tarlok-singh","tag-trade"],"acf":[],"modified_by":"Jill Moriarty","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights<\/title>\n<meta name=\"description\" content=\"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights\" \/>\n<meta property=\"og:description\" content=\"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been\" \/>\n<meta property=\"og:url\" content=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\" \/>\n<meta property=\"og:site_name\" content=\"Griffith Asia Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/griffithasiainstitute\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-18T22:30:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-18T19:05:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2019\/10\/trade-png-900x500-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Griffith Asia Institute\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GAIGriffith\" \/>\n<meta name=\"twitter:site\" content=\"@GAIGriffith\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Griffith Asia Institute\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\"},\"author\":{\"name\":\"Griffith Asia Institute\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/8121b8aa336749474cbaca380c03029a\"},\"headline\":\"Exchange rate volatility and trade in Papua New Guinea\",\"datePublished\":\"2019-10-18T22:30:38+00:00\",\"dateModified\":\"2024-09-18T19:05:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\"},\"wordCount\":933,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization\"},\"keywords\":[\"Associate Professor Tarlok Singh\",\"Dr Jen Je Su\",\"Dr Parmendra Sharma\",\"Exchange rate\",\"Jen-Je Su\",\"Meson Tumsok\",\"Pacific Islands\",\"Pacific outlook\",\"Papua New Guinea\",\"Parmendra Sharma\",\"SPCCB\",\"Tarlok Singh\",\"Trade\"],\"articleSection\":[\"Pacific Forum\",\"Region | Papua New Guinea and the Pacific\",\"Region-PNG and the Pacific\",\"Working paper\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\",\"url\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\",\"name\":\"Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights\",\"isPartOf\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#website\"},\"datePublished\":\"2019-10-18T22:30:38+00:00\",\"dateModified\":\"2024-09-18T19:05:10+00:00\",\"description\":\"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been\",\"breadcrumb\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Exchange rate volatility and trade in Papua New Guinea\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#website\",\"url\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/\",\"name\":\"Griffith Asia Insights\",\"description\":\"Asia Insights is published by the Griffith Asia Institute. It offers latest commentary on Asia-Pacific affairs and aims to inform and foster academic scholarship, public awareness and considered and responsive policy making.\",\"publisher\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization\",\"name\":\"Griffith Asia Institute\",\"url\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/blogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2023\/10\/GU_Griffith-Asia-Institute_rgb_red_horizontal.png?fit=2930%2C308&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/blogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2023\/10\/GU_Griffith-Asia-Institute_rgb_red_horizontal.png?fit=2930%2C308&ssl=1\",\"width\":2930,\"height\":308,\"caption\":\"Griffith Asia Institute\"},\"image\":{\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/griffithasiainstitute\/\",\"https:\/\/twitter.com\/GAIGriffith\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/8121b8aa336749474cbaca380c03029a\",\"name\":\"Griffith Asia Institute\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f133de65681da3b20ddbc1917f066f458d355d7dfa1f214b10ff4bd135d5ab6c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f133de65681da3b20ddbc1917f066f458d355d7dfa1f214b10ff4bd135d5ab6c?s=96&d=mm&r=g\",\"caption\":\"Griffith Asia Institute\"},\"url\":\"https:\/\/testblogs.griffith.edu.au\/asiainsights\/author\/gaigriffith-edu-au\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights","description":"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/","og_locale":"en_US","og_type":"article","og_title":"Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights","og_description":"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been","og_url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/","og_site_name":"Griffith Asia Insights","article_publisher":"https:\/\/www.facebook.com\/griffithasiainstitute\/","article_published_time":"2019-10-18T22:30:38+00:00","article_modified_time":"2024-09-18T19:05:10+00:00","og_image":[{"width":900,"height":450,"url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2019\/10\/trade-png-900x500-1.jpg","type":"image\/jpeg"}],"author":"Griffith Asia Institute","twitter_card":"summary_large_image","twitter_creator":"@GAIGriffith","twitter_site":"@GAIGriffith","twitter_misc":{"Written by":"Griffith Asia Institute","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#article","isPartOf":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/"},"author":{"name":"Griffith Asia Institute","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/8121b8aa336749474cbaca380c03029a"},"headline":"Exchange rate volatility and trade in Papua New Guinea","datePublished":"2019-10-18T22:30:38+00:00","dateModified":"2024-09-18T19:05:10+00:00","mainEntityOfPage":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/"},"wordCount":933,"commentCount":0,"publisher":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization"},"keywords":["Associate Professor Tarlok Singh","Dr Jen Je Su","Dr Parmendra Sharma","Exchange rate","Jen-Je Su","Meson Tumsok","Pacific Islands","Pacific outlook","Papua New Guinea","Parmendra Sharma","SPCCB","Tarlok Singh","Trade"],"articleSection":["Pacific Forum","Region | Papua New Guinea and the Pacific","Region-PNG and the Pacific","Working paper"],"inLanguage":"en-AU","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/","url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/","name":"Exchange rate volatility and trade in Papua New Guinea | Griffith Asia Insights","isPartOf":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#website"},"datePublished":"2019-10-18T22:30:38+00:00","dateModified":"2024-09-18T19:05:10+00:00","description":"MESON TUMSOK, JEN-JE SU, TARLOK SINGH AND PARMENDRA SHARMA | Since the breakdown of the Bretton Woods system of fixed exchange rate in 1973, much has been","breadcrumb":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/exchange-rate-volatility-and-trade-in-papua-new-guinea\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/"},{"@type":"ListItem","position":2,"name":"Exchange rate volatility and trade in Papua New Guinea"}]},{"@type":"WebSite","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#website","url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/","name":"Griffith Asia Insights","description":"Asia Insights is published by the Griffith Asia Institute. It offers latest commentary on Asia-Pacific affairs and aims to inform and foster academic scholarship, public awareness and considered and responsive policy making.","publisher":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#organization","name":"Griffith Asia Institute","url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/blogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2023\/10\/GU_Griffith-Asia-Institute_rgb_red_horizontal.png?fit=2930%2C308&ssl=1","contentUrl":"https:\/\/i0.wp.com\/blogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2023\/10\/GU_Griffith-Asia-Institute_rgb_red_horizontal.png?fit=2930%2C308&ssl=1","width":2930,"height":308,"caption":"Griffith Asia Institute"},"image":{"@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/griffithasiainstitute\/","https:\/\/twitter.com\/GAIGriffith"]},{"@type":"Person","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/8121b8aa336749474cbaca380c03029a","name":"Griffith Asia Institute","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f133de65681da3b20ddbc1917f066f458d355d7dfa1f214b10ff4bd135d5ab6c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f133de65681da3b20ddbc1917f066f458d355d7dfa1f214b10ff4bd135d5ab6c?s=96&d=mm&r=g","caption":"Griffith Asia Institute"},"url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/author\/gaigriffith-edu-au\/"}]}},"jetpack_featured_media_url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2019\/10\/trade-png-900x500-1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_likes_enabled":true,"featured_image_thumbnail_url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2019\/10\/trade-png-900x500-1.jpg","_links":{"self":[{"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/posts\/6464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/comments?post=6464"}],"version-history":[{"count":0,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/posts\/6464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/media\/6466"}],"wp:attachment":[{"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/media?parent=6464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/categories?post=6464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/wp-json\/wp\/v2\/tags?post=6464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}