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Looking back on microeconomic reform: a skeptical viewpoint

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  • Quiggin, John

Abstract

Microeconomic reform dominated Australian economic policy from the early 1980s until the end of the 20th century. Despite strong claims of success, focusing on the economic expansion since 1992, and rapid productivity growth between 1993-94 and 1998-99, evidence of improvements in the performance of the economy as a whole is weak and inconclusive. For an adequate evaluation of the microeconomic reform period, it is necessary to distinguish several different phases of reform and to evaluate reforms on a case-by-case basis.

Suggested Citation

  • Quiggin, John, 2004. "Looking back on microeconomic reform: a skeptical viewpoint," Risk and Sustainable Management Group Working Papers 151502, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqsers:151502
    DOI: 10.22004/ag.econ.151502
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    File URL: https://ageconsearch.umn.edu/record/151502/files/WPP03_1.pdf
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    References listed on IDEAS

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    1. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 145-161, March.
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    Cited by:

    1. Bibek Adhikari & Romain Duval & Bingjie Hu & Prakash Loungani, 2018. "Can Reform Waves Turn the Tide? Some Case Studies using the Synthetic Control Method," Open Economies Review, Springer, vol. 29(4), pages 879-910, September.
    2. John Edwards & David Gruen & John Quiggin, 2011. "Wrap-up Discussion," RBA Annual Conference Volume (Discontinued), in: Hugo Gerard & Jonathan Kearns (ed.),The Australian Economy in the 2000s, Reserve Bank of Australia.
    3. Quiggin, John, 2011. "The Lost Golden Age of Productivity Growth?," Risk and Sustainable Management Group Working Papers 151526, University of Queensland, School of Economics.

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    More about this item

    Keywords

    Public Economics; Risk and Uncertainty;

    JEL classification:

    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition

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