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The Impact of Mining and Services Industries on the Structural Change of Australia

Author

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  • Ikhlaas Gurrib

    () (Canadian University of Dubai, Sheikh Zayed Road, Dubai, UAE, PO Box 117781)

Abstract

Both services and mining industries gained relatively more importance in the structural changes occurring, particularly in recent years, where the rate of structural change has increased. The study aims at defragmenting the mining and services industries, and analyses their impacts on structural change. VAR model, where activity is measured in terms of output, shows social and business services to have more forecasting abilities than other variables. On the hand, VAR model where activity is measured in terms of investment shows the mining industry to have relatively less Mean Absolute Errors forecasts. Results deteriorate as one moves from one step ahead to twelve step ahead forecasts, suggesting longer periods of one step ahead forecasting should be used to avoid cyclical fluctuations in activity variables such as output or investment for industries.

Suggested Citation

  • Ikhlaas Gurrib, 2011. "The Impact of Mining and Services Industries on the Structural Change of Australia," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 4(2), pages 35-51, August.
  • Handle: RePEc:tei:journl:v:4:y:2011:i:2:p:35-51
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    File URL: http://ijbesar.teiemt.gr/docs/volume4_issue2/mining_australia.pdf
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    References listed on IDEAS

    as
    1. Dietrich, Andreas & Krüger, Jens J., 2010. "Long-run sectoral development: Time-series evidence for the German economy," Structural Change and Economic Dynamics, Elsevier, vol. 21(2), pages 111-122, May.
    2. Bonatti, Luigi & Felice, Giulia, 2008. "Endogenous growth and changing sectoral composition in advanced economies," Structural Change and Economic Dynamics, Elsevier, vol. 19(2), pages 109-131, June.
    3. Silva, Ester G. & Teixeira, Aurora A.C., 2008. "Surveying structural change: Seminal contributions and a bibliometric account," Structural Change and Economic Dynamics, Elsevier, vol. 19(4), pages 273-300, December.
    4. Meckl, Jürgen, 1999. "Structural change and generalized balanced growth," Discussion Papers, Series I 298, University of Konstanz, Department of Economics.
    5. Erkan Erdil & I. Hakan Yetkiner, 2004. "A Panel Data Approach for Income-Health Causality," Working Papers FNU-47, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2004.
    6. Andreas Dietrich, 2012. "Does growth cause structural change, or is it the other way around? A dynamic panel data analysis for seven OECD countries," Empirical Economics, Springer, vol. 43(3), pages 915-944, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Australia; mining; services; VAR; structural change;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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