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Where is the Growth Going to Come From?

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  • Luci Ellis

Abstract

As the mining investment boom turned down and became a drag on growth, the question has often been asked: “Where is the growth going to come from?” Commentators started speaking of a growth “handover”: if mining investment was not going to provide our growth, something else needed to. And for a while, particular non‐mining sectors did seem to pick up, to become in turn the new “engine of growth.” However, this article argues that the underlying drivers of growth over the longer term do not depend on external triggers. Instead, they can be found in the “three Ps” – population, participation and productivity.

Suggested Citation

  • Luci Ellis, 2018. "Where is the Growth Going to Come From?," Economic Papers, The Economic Society of Australia, vol. 37(1), pages 4-16, March.
    • Handle: RePEc:bla:econpa:v:37:y:2018:i:1:p:4-16
    DOI: 10.1111/1759-3441.12203
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    References listed on IDEAS

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    1. Gordon Menzies & Geoffrey Heenan, 1993. "Explaining the Recent Performance of Australia’s Manufactured Exports," RBA Research Discussion Papers rdp9310, Reserve Bank of Australia.
    2. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
    3. David Autor & David Dorn & Lawrence F Katz & Christina Patterson & John Van Reenen, 2020. "The Fall of the Labor Share and the Rise of Superstar Firms [“Automation and New Tasks: How Technology Displaces and Reinstates Labor”]," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(2), pages 645-709.
    4. Gary Banks, 2013. "Return of the Rent-Seeking Society?," Economic Papers, The Economic Society of Australia, vol. 32(4), pages 405-416, December.
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