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Looking back on microeconomic reform: a skeptical viewpoint

  • John Quiggin

    ()

    (Department of Economics, University of Queensland)

Microeconomic reform dominated Australian economic policy from the early 1980s until the end of the 20th century. Despite strong claims of success, focusing on the economic expansion since 1992, and rapid productivity growth between 1993-94 and 1998-99, evidence of improvements in the performance of the economy as a whole is weak and inconclusive. For an adequate evaluation of the microeconomic reform period, it is necessary to distinguish several different phases of reform and to evaluate reforms on a case-by-case basis.

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Paper provided by Risk and Sustainable Management Group, University of Queensland in its series Australian Public Policy Program Working Papers with number WPP03_1.

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Date of creation: Aug 2003
Date of revision: Aug 2003
Handle: RePEc:rsm:pubpol:p03_1
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  1. Milbourne, Ross & Cumberworth, Matthew, 1991. "Australian Banking Performance in an Era of Deregulation," Australian Economic Papers, Wiley Blackwell, vol. 30(57), pages 171-91, December.
  2. George M. Constantinidies & John B. Donaldson & Rajnish Mehra, 1998. "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," NBER Working Papers 6617, National Bureau of Economic Research, Inc.
  3. John Quiggin, 1997. "Evaluating Airline Deregulation in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 30(1), pages 45-56.
  4. Philippe Weil, 1989. "The Equity Premium Puzzle and the Riskfree Rate Puzzle," NBER Working Papers 2829, National Bureau of Economic Research, Inc.
  5. John Quiggin, 1995. "Does Privatisation Pay?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(2), pages 23-42.
  6. R. Mehra & E. Prescott, 2010. "The equity premium: a puzzle," Levine's Working Paper Archive 1401, David K. Levine.
  7. Geoff Edwards, 2003. "The story of deregulation in the dairy industry," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(1), pages 75-98, 03.
  8. N. Gregory Mankiw, 1986. "The Equity Premium and the Concentration of Aggregate Shocks," NBER Working Papers 1788, National Bureau of Economic Research, Inc.
  9. Simon Grant & John Quiggin, 2003. "Public Investment and the Risk Premium for Equity," Economica, London School of Economics and Political Science, vol. 70(277), pages 1-18, February.
  10. Edwards, Geoff W., 2003. "The story of deregulation in the dairy industry," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(1), March.
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