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Responding to Shocks: Australia's Institutions and Policies

  • Ian W. McLean

    ()

    (School of Economics, University of Adelaide)

The current economic crisis has taught another generation of Australians that their economy remains vulnerable to negative external shocks, as it has been since the depression of the early 1840s. So it is unsurprising that shocks and crises figure prominently in the economic history literature, with most attention given the depressions of the 1890s and 1930s. Less attention has been given to other negative shocks, or to a comparative treatment of shocks. In particular, the implications for long-run prosperity resulting from the policy responses to shocks have not received the scrutiny given their short run consequences.

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File URL: http://www.economics.adelaide.edu.au/research/papers/doc/wp2010-30.pdf
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Paper provided by University of Adelaide, School of Economics in its series School of Economics Working Papers with number 2010-30.

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Length: 29 pages
Date of creation: Dec 2010
Date of revision:
Handle: RePEc:adl:wpaper:2010-30
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Web page: http://www.economics.adelaide.edu.au/

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  1. Ian McLean, 2007. "Might Australia Have Failed? Endowments, Institutions and Contingency," School of Economics Working Papers 2007-04, University of Adelaide, School of Economics.
  2. Ian W. McLean, 2005. "Why Was Australia So Rich?," School of Economics Working Papers 2005-11, University of Adelaide, School of Economics.
  3. La Croix, Sumner J., 1992. "Property rights and institutional change during Australia's gold rush," Explorations in Economic History, Elsevier, vol. 29(2), pages 204-227, April.
  4. Christian Gillitzer & Jonathan Kearns, 2005. "Long-term Patterns in Australia’s Terms of Trade," RBA Research Discussion Papers rdp2005-01, Reserve Bank of Australia.
  5. Sambit Bhattacharyya & Jeffrey G. Williamson, 2009. "Commodity Price Shocks and the Australian Economy since Federation," NBER Working Papers 14694, National Bureau of Economic Research, Inc.
  6. Rod Tyers & William Coleman, 2008. "Beyond Brigden: Australia's Inter-War Manufacturing Tariffs, Real Wages and Economic Size," The Economic Record, The Economic Society of Australia, vol. 84(264), pages 50-67, 03.
  7. Lehmann, Sibylle H. & O'Rourke, Kevin Hjortshøj, 2008. "The Structure of Protection and Growth in the Late 19th Century," CEPR Discussion Papers 7053, C.E.P.R. Discussion Papers.
  8. David, Paul A & Wright, Gavin, 1997. "Increasing Returns and the Genesis of American Resource Abundance," Industrial and Corporate Change, Oxford University Press, vol. 6(2), pages 203-45, March.
  9. Michael A. Clemens & Jeffrey G. Williamson, 2004. "Why did the Tariff--Growth Correlation Change after 1950?," Journal of Economic Growth, Springer, vol. 9(1), pages 5-46, 03.
  10. McLean, Ian W, 1982. "The Demand for Agricultural Research in Australia, 1870-1914," Australian Economic Papers, Wiley Blackwell, vol. 21(39), pages 294-308, December.
  11. David Y. Albouy, 2008. "The Colonial Origins of Comparative Development: An Investigation of the Settler Mortality Data," NBER Working Papers 14130, National Bureau of Economic Research, Inc.
  12. Francisco Rodriguez & Dani Rodrik, 2001. "Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-National Evidence," NBER Chapters, in: NBER Macroeconomics Annual 2000, Volume 15, pages 261-338 National Bureau of Economic Research, Inc.
  13. David Merrett & Simon Ville, 2011. "Tariffs, Subsidies, And Profits: A Re‐Assessment Of Structural Change In Australia 1901–39," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 51(1), pages 46-70, 03.
  14. O'Rourke, Kevin H, 2000. "Tariffs and Growth in the Late 19th Century," Economic Journal, Royal Economic Society, vol. 110(463), pages 456-83, April.
  15. Joshua L. Rosenbloom & William A. Sundstrom, 2009. "Labor-Market Regimes in U.S. Economic History," NBER Working Papers 15055, National Bureau of Economic Research, Inc.
  16. Ville,Simon, 2010. "The Rural Entrepreneurs," Cambridge Books, Cambridge University Press, number 9780521125949, june. pag.
  17. Stephen Broadberry & Douglas A. Irwin, 2007. "Lost Exceptionalism? Comparative Income and Productivity in Australia and the UK, 1861-1948," The Economic Record, The Economic Society of Australia, vol. 83(262), pages 262-274, 09.
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