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How Bad is Australia's Economic Performance and Why?

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  • F.H. GRUEN

Abstract

While public concern about Australia's relatively poor growth performance is recent, our performance has been poor for a long time. Practically the whole of our slide down the income‐per‐head totem pole occurred before 1973. The paper advances the argument that ‘made to measure’ protection and widespread restrictive trade practices used to be one of the main factors retarding faster growth in Australia before the seventies, though deteriorating terms of trade have also been important. The profit squeeze resulting from real wage inflexibility during the seventies has probably played an important role since then. There is no evidence to support the contention that our poor growth is the result of the expansion of the public sector.

Suggested Citation

  • F.H. Gruen, 1986. "How Bad is Australia's Economic Performance and Why?," The Economic Record, The Economic Society of Australia, vol. 62(2), pages 180-193, June.
    • Handle: RePEc:bla:ecorec:v:62:y:1986:i:2:p:180-193
    DOI: 10.1111/j.1475-4932.1986.tb00893.x
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    Cited by:

    1. N. Kakwani & K. Subbarao, 1993. "Are Low Income Countries Catching up or Falling Further Behind? Evidence from Income and Demographic Indicators," The Economic and Labour Relations Review, , vol. 4(1), pages 98-119, June.
    2. Pierre N. V. Tu, 1991. "Migration: Gains or Losses?," The Economic Record, The Economic Society of Australia, vol. 67(2), pages 153-157, June.
    3. Feridun, M., 2004. "Does inmigration have an impact on economic development and unemployment?. Empirical evidence from Finland(1981-2001)," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 1(3), pages 39-60.
    4. Joseph Halevi & Peter Kriesler, 1991. "Australian Economic Growth: A Structural Perspective (A Preliminary Report)," The Economic and Labour Relations Review, , vol. 2(2), pages 131-142, December.
    5. Farhad Rassekh, 1998. "The Convergence Hypothesis: History, Theory, and Evidence," Open Economies Review, Springer, vol. 9(1), pages 85-105, January.
    6. Ian Castles, 1995. "Measuring Economic Progress," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.
    7. Collins, David J., 1988. "Fringe Benefits Taxation and the Rural Sector," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(01), pages 145-145, April.
    8. Andrew Marks & Mehdi Sadeghi, 1998. "Testing the Olson Hypothesis within the Australian Context," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 31(2), pages 130-144, June.
    9. Philip Lowe, 1992. "The Impact of Real and Nominal Shocks on Australian Real Exchange Rates," RBA Research Discussion Papers rdp9201, Reserve Bank of Australia.
    10. Steve Dowrick, 1995. "The Determinants of Long-Run Growth," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.
    11. John Quiggin, 1995. "Discussion of 'Measuring Economic Progress'," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.

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