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Trade, Employment and Structural Change: The Australian Experience

Author

Listed:
  • Greg Thompson

    (Australian Productivity Commission)

  • Tim Murray

    (Australian Productivity Commission)

  • Patrick Jomini

    (Australian Productivity Commission)

Abstract

International trade produces income gains across the world by facilitating an efficient allocation of production among trading countries. However, increased trade exposure also creates some challenges, and there are adjustment costs associated with changing trade patterns. Effective complementary policies, by promoting flexibility and adaptation within economies, can reduce adjustment costs associated with increased trade, and therefore ensure the benefits are maximised. This paper highlights these issues with reference to recent experience in Australia. Computable General Equilibrium modelling shows how the recent improvement in Australia‘s terms of trade is likely to have increased incomes and that the magnitude of these gains is directly linked to the degree of flexibility of the economy.

Suggested Citation

  • Greg Thompson & Tim Murray & Patrick Jomini, 2012. "Trade, Employment and Structural Change: The Australian Experience," OECD Trade Policy Papers 137, OECD Publishing.
    • Handle: RePEc:oec:traaab:137-en
    DOI: 10.1787/5k9csf8jftbt-en
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    Citations

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    Cited by:

    1. John Anyanwu, 2014. "Working Paper 201 - Does Intra-African Trade Reduce Youth Unemployment in Africa ?," Working Paper Series 2107, African Development Bank.
    2. van Neuss, Leif, 2018. "Globalization and deindustrialization in advanced countries," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 49-63.
    3. John C. Anyanwu, 2014. "Does Intra‐African Trade Reduce Youth Unemployment in Africa?," African Development Review, African Development Bank, vol. 26(2), pages 286-309, June.

    More about this item

    Keywords

    employment; growth; trade; wages;
    All these keywords.

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions

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