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Macroeconomic Policy and its Implications for SME Development: The Australian Experience


  • Greg Walker

    (Charles Sturt University, Faculty of Commerce, Bathurst, NSW, Australia)

  • Hazbo Skoko

    (Charles Sturt University, Faculty of Commerce, Bathurst, NSW, Australia)


The purpose of this paper is to explore the relationship between macro and small business support policy. Recent Australian experience is used as a case study for the exploration of possible causal links in this policy relationship. This may provide a basis for evaluating the appropriateness of current policy approaches evident in countries that are focused on promoting a neo-liberal economic environment characterised by budget surpluses, low inflation, low public debt and privatisation policies, which are regarded as supportive of SMEs and entrepreneurial activity. This paper provides a basis for reflecting on the broader trend within modern capitalist economies, as typified by the Australian experience, to stimulate individual initiative and entrepreneurialism as a solution to contemporary social and economic problems.

Suggested Citation

  • Greg Walker & Hazbo Skoko, 2005. "Macroeconomic Policy and its Implications for SME Development: The Australian Experience," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 8(1), pages 35-54, May.
  • Handle: RePEc:zag:zirebs:v:8:y:2005:i:1:p:35-54

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    References listed on IDEAS

    1. Reinhart, Carmen & Leiderman, Leonardo, 1994. "Capital inflows to Latin America," MPRA Paper 13406, University Library of Munich, Germany.
    2. Carmen M. Reinhart & R. Todd Smith, 1996. "Too much of a good thing: the macroeconomic effects of taxing capital inflows," Proceedings, Federal Reserve Bank of San Francisco, pages 436-464.
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    More about this item


    macroeconomic policy; Australian government; SMEs;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure


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