- Title
- Reform, structural change and growth in the Australian economy: current obstacles
- Creator
- Anwar, Sajid; Catley, Bob
- Relation
- Australian Studies Vol. 19, Issue 1, p. 57-94
- Relation
- http://www.kcl.ac.uk/schools/humanities/menzies/basa/journal.html
- Publisher
- British Australian Studies Association
- Resource Type
- journal article
- Date
- 2006
- Description
- The Australian economy has gone through a number of significant reforms and structural changes during the past few decades. The overall impact of these reforms on the economy has been positive as indicated by the strong growth. Due to rising demand in the domestic market and significant currency depreciation, the economy was also able to withstand the Asian financial crisis of 1997-98. This paper examines some of the main factors that have contributed to economic growth and growth in productivity in Australia. The paper also considers issues such as the rising current account deficit and house borrowing which can slow down the rate of economic growth in Australia. The paper argues that the most recent economic growth has been largely reliant on rising domestic demand. The household saving ratio during 2002 and 2003 has been negative indicating that the economic growth at least in the short-term would have to be fulled by export growth. Recent free trade agreements with regional economies and the US and continued economic growth in China provide an excellent opportunity for Australia to take advantage of positive development in its external environment.
- Subject
- Australian economy; economic reforms; economic growth
- Identifier
- uon:1013
- Identifier
- http://hdl.handle.net/1959.13/26657
- Identifier
- ISSN:0954-0954
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