l wilson kamit : two new papua new guinea banknotes speech by mr l wilson kamit, cbe, governor of the bank of papua new guinea, at the launch of new series k5 and k10 banknotes, port moresby, 18 april 2008. * * * distinguished guests, ladies and gentlemen, welcome to the launch of our new five kina and ten kina banknotes. may i thank the minister for finance and treasury, honourable patrick pruaitch for accepting our invitation to officiate on this important occasion. the bank of papua new guinea has timed the release of the new polymer k5 and k10 banknotes to coincide with the kina and toea day, which is on the 19th of april 2008. because the 19th of april this year falls on this saturday, we have decided to bring this event forward to today so that we can commence issuing the new notes from friday onwards. this now completes our programme to have a family of banknotes showing the national parliament building on the front. ladies and gentlemen, since papua new guinea introduced the kina and toea thirty - three years ago on 19th april 1975, our family of banknotes and coins have changed reflecting the development of the economy, business activity and world - wide trends. for the banknotes, we started off with the 2 kina, 5 kina and 10 kina notes, then introduced the 20 kina banknote in 1978, the 50 kina banknote in 1989 and the 100 kina banknote in 2005. similarly for coins, we began with the 1 toea, 2 toea, 5 toea, 10 toea, 20 toea and 1 kina coins in 1975. this was followed by the south pacific festival of arts commemorative 50 toea coin in 1980. the 1 and 2 toea coins were withdrawn from circulation in 2006 when it was clear they had become redundant and the larger sized 1 kina coin replaced by a smaller sized coin. over the years, the bank has issued banknotes and coins to commemorate. special and significant events and milestones in the history of our country. these include events such as the south pacific games, independence anniversaries and the bank ’ s anniversaries. the bank has a numismatic ( collectors ) programme where rare moments such as today can be captured in specially packed coins and notes ( un - cut ) full sheets. our quality of currency has also evolved over the thirty - three years, reflecting technological developments

vol. 89 ( may, papers and proceedings ), pp. 328 - 32. corrado, carol, paul lengermann, j. joseph beaulieu, and eric j. bartelsman ( 2007 ). " sectoral productivity in the united states : recent developments and the role of it ", german economic review, vol. 8 ( may ), pp. 188 - 210. corrado, carol, paul lengermann, and larry slifman ( 2007 ). " the contribution of multinational corporations to u. s. productivity growth, 1977 - 2000 ", finance and economics discussion series 2007 - 21. washington : board of governors of the federal reserve system, november. doms, mark e., and j. bradford jensen ( 1998 ). " productivity, skill, and wage effects of multinational corporations in the united states ", in d. woodward and d. nigh, eds., foreign ownership and the consequences of direct investment in the united states : beyond us and them. westport, conn. : quorum books, pp. 49 - 68. energy information administration ( 2002 ). " petroleum chronology of events 1970 - 2000 ". _ _ _ _ _ _ _ _ _ ( 2008a ). " cushing, ok wti spot price fob ", ( accessed may 27, 2008 ). _ _ _ _ _ _ _ _ _ ( 2008b ). " table 1. 7 : energy consumption per real dollar of gross domestic product ", monthly energy review ( may ). jorgenson, dale w., mun s. ho, and kevin j. stiroh ( 2007 ). " a retrospective look at the u. s. productivity growth resurgence ", staff report 277. new york : federal reserve bank of new york, february. kurz, christopher j. ( 2006 ). " outstanding outsourcers : a firm - and plant - level analysis of production sharing ", finance and economics discussion series 2006 - 04. washington : board of governors of the federal reserve system, march. oliner, stephen d., daniel e. sichel, and kevin j. stiroh ( 2007 ). " explaining a productive decade ", brookings papers on economic activity, vol. 2007 ( no. 1 ), pp. 81 - 152. orphanides, athanasios ( 2003 ). " the quest for prosperity without inflation ", journal of monetary economics, vol. 50 ( april )