IDEAS home Printed from https://ideas.repec.org/p/qld/uq2004/521.html
   My bibliography  Save this paper

The Australian growth miracle: An evolutionary macroeconomic explanation

Author

Abstract

The purpose of this article is to understand the drivers of Australian economic growth since its Federation in 1901. Australia is an interesting case study given that it seems not to have been affected by the ‘natural resource curse’ like many other natural resource dependent countries. Indeed, at time of writing, it has been 23 years since it experienced a recession and its GDP per capita is now amongst the very highest in the World. At the end of the 19th Century it also had one of the highest per capita incomes in the World and, although there were economic difficulties between the World Wars, it did not fall into relative economic decline like, for example, Argentina, also a European immigrant country producing and exporting natural resources.

Suggested Citation

  • John Foster, 2014. "The Australian growth miracle: An evolutionary macroeconomic explanation," Discussion Papers Series 521, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uq2004:521
    as

    Download full text from publisher

    File URL: http://www.uq.edu.au/economics/abstract/521.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Molyneaux, Lynette & Wagner, Liam & Froome, Craig & Foster, John, 2012. "Resilience and electricity systems: A comparative analysis," Energy Policy, Elsevier, vol. 47(C), pages 188-201.
    2. Md. Shahiduzzaman & Khorshed Alam, 2014. "A reassessment of energy and GDP relationship: the case of Australia," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 16(2), pages 323-344, April.
    3. Rajabrata Banerjee, 2012. "Population Growth and Endogenous Technological Change: Australian Economic Growth in the Long Run," The Economic Record, The Economic Society of Australia, vol. 88(281), pages 214-228, June.
    4. Ricardo Hausmann & César Hidalgo, 2011. "The network structure of economic output," Journal of Economic Growth, Springer, vol. 16(4), pages 309-342, December.
    5. John Foster & Phillip Wild, 1999. "Detecting self-organisational change in economic processes exhibiting logistic growth," Journal of Evolutionary Economics, Springer, vol. 9(1), pages 109-133.
    6. John Foster, 2011. "Evolutionary macroeconomics: a research agenda," Journal of Evolutionary Economics, Springer, vol. 21(1), pages 5-28, February.
    7. Dodgson, Mark & Hughes, Alan & Foster, John & Metcalfe, Stan, 2011. "Systems thinking, market failure, and the development of innovation policy: The case of Australia," Research Policy, Elsevier, vol. 40(9), pages 1145-1156.
    8. Jakob Madsen & James Ang & Rajabrata Banerjee, 2010. "Four centuries of British economic growth: the roles of technology and population," Journal of Economic Growth, Springer, vol. 15(4), pages 263-290, December.
    9. Foster, John & Wild, Phillip, 1999. "Econometric Modelling in the Presence of Evolutionary Change," Cambridge Journal of Economics, Oxford University Press, vol. 23(6), pages 749-770, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John Foster, 2017. "Prior Commitment and Uncertainty in Complex Economic Systems: Reinstating History in the Core of Economic Analysis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 64(4), pages 392-418, September.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:qld:uq2004:521. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SOE IT). General contact details of provider: http://edirc.repec.org/data/decuqau.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.