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Sectoral trends and shocks in Australia’s economic growth

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  • Kym Anderson

Abstract

This paper examines the extent to which sectoral trends and fluctuations in the Australian economy can be understood using international trade theory and knowledge of key policy developments. It suggests they are consistent with theory, but it also reveals several features that make Australia’s economy unusual. The most striking are the facts that (1) the agricultural sector’s share of GDP remained fairly constant rather than falling during 1860- 1960 and even during the latest mining boom; and (2) the farm sector continued to enjoy a strong comparative advantage despite periodic spurts of growth in mining exports.

Suggested Citation

  • Kym Anderson, 2016. "Sectoral trends and shocks in Australia’s economic growth," Departmental Working Papers 2016-18, The Australian National University, Arndt-Corden Department of Economics.
    • Handle: RePEc:pas:papers:2016-18
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    1. Julian M. Alston & Kym Anderson & Philip G. Pardey & John Freebairn, 2016. "Antipodean agricultural and resource economics at 60: booming sector economics," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 633-646, October.
    2. Julian M. Alston & Kym Anderson & Philip G. Pardey & Bill Malcolm & Vic Wright, 2016. "Antipodean agricultural and resource economics at 60: farm management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 516-530, October.
    3. Kym Anderson & William A. Masters, 2009. "Distortions to Agricultural Incentives in Africa," World Bank Publications - Books, The World Bank Group, number 2607, December.
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    11. Julian M. Alston & Kym Anderson & Philip G. Pardey & David Pannell & Graeme Doole & Jimmy Cheung, 2016. "Antipodean agricultural and resource economics at 60: natural resource management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 651-667, October.
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    17. Julian M. Alston & Kym Anderson & Philip G. Pardey & Julian M. Alston & Philip G. Pardey, 2016. "Antipodean agricultural and resource economics at 60: agricultural innovation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 554-568, October.
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    22. Quiggin, John C. & Anderson, Jock R., 2016. "Antipodean agricultural and resource economics at 60: risk and uncertainty," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), October.
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    25. Bennett, Jeff & Randall, Alan, 2016. "Antipodean agricultural and resource economics at 60: environmental economics," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), October.
    26. Anderson, Kym & Lattimore, Ralph G. & Lloyd, Peter J. & MacLaren, Donald, 2007. "Distortions to Agricultural Incentives in Australia and New Zealand," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10407, Australian Agricultural and Resource Economics Society.
    27. Julian M. Alston & Kym Anderson & Philip G. Pardey & Geoff Edwards & Winton Bates, 2016. "Antipodean agricultural and resource economics at 60: agricultural adjustment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 573-589, October.
    28. Anderson, Kym, 2009. "Five Decades of Distortions to Agricultural Incentives," Agricultural Distortions Working Paper Series 48742, World Bank.
    29. Julian M. Alston & Kym Anderson & Philip G. Pardey & Brian S. Fisher, 2016. "Antipodean agricultural and resource economics at 60: climate change policy and energy transition," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(4), pages 692-705, October.
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    Cited by:

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    2. Kym Anderson & Sundar Ponnusamy, 2019. "Structural Transformation to Manufacturing and Services: What Role for Trade?," Asian Development Review, MIT Press, vol. 36(2), pages 32-71, September.

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    More about this item

    Keywords

    agricultural development; mining booms; structural transformation; trade costs; manufacturing protection;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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