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The Impact of Mining and Services Industries on the Structural Change of Australia

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  • Ikhlaas Gurrib

    () (Canadian University of Dubai, Sheikh Zayed Road, Dubai, UAE, PO Box 117781)

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    Abstract

    Both services and mining industries gained relatively more importance in the structural changes occurring, particularly in recent years, where the rate of structural change has increased. The study aims at defragmenting the mining and services industries, and analyses their impacts on structural change. VAR model, where activity is measured in terms of output, shows social and business services to have more forecasting abilities than other variables. On the hand, VAR model where activity is measured in terms of investment shows the mining industry to have relatively less Mean Absolute Errors forecasts. Results deteriorate as one moves from one step ahead to twelve step ahead forecasts, suggesting longer periods of one step ahead forecasting should be used to avoid cyclical fluctuations in activity variables such as output or investment for industries.

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    File URL: http://www.ijesar.org/docs/volume4_issue2/mining_australia.pdf
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    Bibliographic Info

    Article provided by Technological Educational Institute (TEI) of Kavala, Greece in its journal International Journal of Economic Sciences and Applied Research (IJESAR).

    Volume (Year): 4 (2011)
    Issue (Month): 2 (August)
    Pages: 35-51

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    Handle: RePEc:tei:journl:v:4:y:2011:i:2:p:35-51

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    Related research

    Keywords: Australia; mining; services; VAR; structural change;

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    1. Andreas Dietrich & Jens J. Krüger, 2008. "Long-Run Sectoral Development - Time Series Evidence for the German Economy," Jena Economic Research Papers 2008-013, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
    2. Bonatti, Luigi & Felice, Giulia, 2008. "Endogenous growth and changing sectoral composition in advanced economies," Structural Change and Economic Dynamics, Elsevier, vol. 19(2), pages 109-131, June.
    3. Silva, Ester G. & Teixeira, Aurora A.C., 2008. "Surveying structural change: Seminal contributions and a bibliometric account," Structural Change and Economic Dynamics, Elsevier, vol. 19(4), pages 273-300, December.
    4. Juergen Meckl, 2000. "Structural Change and Generalized Balanced Growth," Econometric Society World Congress 2000 Contributed Papers 0233, Econometric Society.
    5. Erkan Erdil & I. Hakan Yetkiner, 2004. "A Panel Data Approach for Income-Health Causality," Working Papers FNU-47, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2004.
    6. Andreas Dietrich, 2009. "Does Growth Cause Structural Change, or Is it the Other Way Round? A Dynamic Panel Data Analyses for Seven OECD Countries," Jena Economic Research Papers 2009-034, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
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