Sectoral Trends and Shocks in Australia's Economic Growth

31 Pages Posted: 7 Nov 2016

See all articles by Kym Anderson

Kym Anderson

University of Adelaide - Centre for International Economic Studies (CIES); Centre for Economic Policy Research (CEPR); Australian National University

Date Written: November 2016

Abstract

This paper examines the extent to which sectoral trends and fluctuations in the Australian economy can be understood using international trade theory and knowledge of key policy developments. It suggests they are consistent with theory, but it also reveals several features that make Australia's economy unusual. The most striking are the facts that (1) the agricultural sector's share of GDP remained fairly constant rather than falling during 1860-1960 and even during the latest mining boom; and (2) the farm sector continued to enjoy a strong comparative advantage despite periodic spurts of growth in mining exports.

Keywords: agricultural development, manufacturing protection, mining booms, structural transformation, Trade Costs

JEL Classification: F13, F63, N47, O13, Q17

Suggested Citation

Anderson, Kym, Sectoral Trends and Shocks in Australia's Economic Growth (November 2016). CEPR Discussion Paper No. DP11598, Available at SSRN: https://ssrn.com/abstract=2865866

Kym Anderson (Contact Author)

University of Adelaide - Centre for International Economic Studies (CIES) ( email )

School of Economics
Adelaide SA 5005
Australia
+61 8 8313 4712 (Phone)
+61 8 8223 1460 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Australian National University ( email )

Arndt-Corden Dept of Economics
Coombs Building
Canberra, AK ACT 2600
Australia
+61 8 8313 4712 (Phone)

HOME PAGE: http://publicpolicy.anu.edu.au/crawford_people/content/staff/acde/kanderson.php

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