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Trends in Natural Resource Commodity Prices in Australia

Author

Listed:
  • Gangadharan, L.
  • Maitra, P.

Abstract

In this paper we examine the trends in the prices of natural resource commodities in Australia. The existing literature predicts rising prices for minerals, indicative of scarcity. We present a menu of tests to characterise the observed trends in the prices of 12 resources and do not find any such general trend. Of the 12 series examined, only one is stationary in levels. Of the 11 non stationary price series 4 show a positive trend. The rest are either negative or stochastic. We also examine the behaviour of the All Resources Index, which is a measure of the aggregate activity in the natural resources sector in the country.

Suggested Citation

  • Gangadharan, L. & Maitra, P., 1998. "Trends in Natural Resource Commodity Prices in Australia," Department of Economics - Working Papers Series 646, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:646
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    Cited by:

    1. Alan Randall, 2008. "Is Australia on a sustainability path? Interpreting the clues ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), pages 77-95, March.
    2. Randall, Alan, 2008. "Is Australia on a sustainability path? Interpreting the clues," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), pages 1-19.

    More about this item

    Keywords

    PRICES ; NATURAL RESOURCES;

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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