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The Impact of Productivity Growth on the Costs of Production in Australian Manufacturing Industries

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  • JOHN L. WHTTEMAN

Abstract

The primary objective of this study is to examine the impact of technological progress on costs of production in 34 Australian manufacturing industries. An analytical model incorporating the notion of factor‐augmenting technological change was developed and applied to each industry. The results indicated that in most of the industries technological progress during the period 1954–55 to 1981–82 had been biased towards augmenting labour and thereby reducing the cost of labour per unit of production. The implication of the analysis is that there is a nexus between incomes policy and the rate and bias of factor‐augmenting technological change.

Suggested Citation

  • John L. Whtteman, 1991. "The Impact of Productivity Growth on the Costs of Production in Australian Manufacturing Industries," The Economic Record, The Economic Society of Australia, vol. 67(1), pages 14-25, March.
    • Handle: RePEc:bla:ecorec:v:67:y:1991:i:1:p:14-25
    DOI: 10.1111/j.1475-4932.1990.tb02524.x
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    1. van de Klundert, T.C.M.J. & David, P.A., 1965. "Biased Efficiency Growth and Capital-Labor Substitution in the U.S., 1899-1960Biased Efficiency Growth and Capital-Labor Substitution in the U.S., 1899-1960," Other publications TiSEM 049dd3c3-8689-4ac6-9e72-7, Tilburg University, School of Economics and Management.
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    3. Binswanger, Hans P, 1974. "A Microeconomic Approach to Induced Innovation," Economic Journal, Royal Economic Society, vol. 84(336), pages 940-958, December.
    4. Wills, John, 1979. "Technical change in the U.S. primary metals industry," Journal of Econometrics, Elsevier, vol. 10(1), pages 85-98, April.
    5. Carter, Richard A. L. & Nagar, Anirudh L., 1977. "Coefficients of correlation for simultaneous equation systems," Journal of Econometrics, Elsevier, vol. 6(1), pages 39-50, July.
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