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The resources boom and the two-speed economy

Author

Listed:
  • Phil Garton

    (Treasury, Government of Australia)

Abstract

The resources boom has prompted much discussion of Australia having become a two-speed economy. There are concerns that the gains from the boom accrue largely to mining-related sectors and the states where these are concentrated, while the rest of the country is being hit by higher interest and exchange rates as a result of the boom. This article shows that there has been a divergence in output and employment growth between the mining states and the rest of the country in recent years.

Suggested Citation

  • Phil Garton, 2008. "The resources boom and the two-speed economy," Economic Roundup, The Treasury, Australian Government, issue 3, pages 17-29, October.
    • Handle: RePEc:tsy:journl:journl_tsy_er_2008_3_1
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    File URL: http://archive.treasury.gov.au/documents/1421/PDF/02_Resources_boom_two_speed_economy.pdf
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    Citations

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    Cited by:

    1. Hilde C. Bjørnland & Leif A. Thorsrud, 2016. "Boom or Gloom? Examining the Dutch Disease in Two‐speed Economies," Economic Journal, Royal Economic Society, vol. 126(598), pages 2219-2256, December.
    2. Gaston, Noel & Rajaguru, Gulasekaran, 2013. "How an export boom affects unemployment," Economic Modelling, Elsevier, vol. 30(C), pages 343-355.
    3. Knop, Stephen J. & Vespignani, Joaquin L., 2014. "The sectorial impact of commodity price shocks in Australia," Economic Modelling, Elsevier, vol. 42(C), pages 257-271.
    4. Kostas Mavromaras & Neha Deo & Heath Spong & Maria Estela Varua, 2017. "The Impact of the GFC on Sectoral Market Efficiency: Non-linear Testing for the Case of Australia," The Economic Record, The Economic Society of Australia, vol. 93, pages 38-56, June.
    5. Prasad, Mason & Bakry, Walid & Varua, Maria Estela, 2021. "Abnormal volatility in seasoned equity offerings during economic disruptions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
    6. Melanie, Jane & Gleeson, Trish & Rogers, Nikki & Stark, Clare, 2009. "The energetic north: development gains and growing pains," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47644, Australian Agricultural and Resource Economics Society.
    7. Rolfe, John, 2013. "Predicting the economic and demographic impacts of long distance commuting in the resources sector: A Surat basin case study," Resources Policy, Elsevier, vol. 38(4), pages 723-732.
    8. Knop, Stephen J & Vespignani, Joaquin L., 2014. "Industrial Impact of Commodity Price Shocks in Australia," MPRA Paper 104678, University Library of Munich, Germany.
    9. International Monetary Fund, 2011. "Australia: Selected Issues," IMF Staff Country Reports 2011/301, International Monetary Fund.
    10. de Jesus, Diego Pitta & Lenin Souza Bezerra, Bruno Felipe & da Nóbrega Besarria, Cássio, 2020. "The non-linear relationship between oil prices and stock prices: Evidence from oil-importing and oil-exporting countries," Research in International Business and Finance, Elsevier, vol. 54(C).
    11. Windle, Jill & Rolfe, John, 2014. "Assessing the trade-offs of increased mining activity in the Surat Basin, Queensland: preferences of Brisbane residents using nonmarket valuation techniques," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(1), January.

    More about this item

    Keywords

    economic growth; extractive industries; natural resources; regional economic activity;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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