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The resources boom and the two-speed economy

Author

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  • Phil Garton

    (Treasury, Government of Australia)

Abstract

The resources boom has prompted much discussion of Australia having become a two-speed economy. There are concerns that the gains from the boom accrue largely to mining-related sectors and the states where these are concentrated, while the rest of the country is being hit by higher interest and exchange rates as a result of the boom. This article shows that there has been a divergence in output and employment growth between the mining states and the rest of the country in recent years.

Suggested Citation

  • Phil Garton, 2008. "The resources boom and the two-speed economy," Economic Roundup, The Treasury, Australian Government, issue 3, pages 17-29, October.
  • Handle: RePEc:tsy:journl:journl_tsy_er_2008_3_1
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    File URL: http://archive.treasury.gov.au/documents/1421/PDF/02_Resources_boom_two_speed_economy.pdf
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    Citations

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    Cited by:

    1. Gaston, Noel & Rajaguru, Gulasekaran, 2013. "How an export boom affects unemployment," Economic Modelling, Elsevier, vol. 30(C), pages 343-355.
    2. Hilde C. Bjørnland & Leif A. Thorsrud, 2016. "Boom or Gloom? Examining the Dutch Disease in Two‐speed Economies," Economic Journal, Royal Economic Society, vol. 126(598), pages 2219-2256, December.
    3. Knop, Stephen J. & Vespignani, Joaquin L., 2014. "The sectorial impact of commodity price shocks in Australia," Economic Modelling, Elsevier, vol. 42(C), pages 257-271.
    4. repec:bla:ecorec:v:93:y:2017:i::p:38-56 is not listed on IDEAS

    More about this item

    Keywords

    economic growth; extractive industries; natural resources; regional economic activity;

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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