Australian economic prospects in a changing global economic order

Shoring, Peter Alan. (1979). Australian economic prospects in a changing global economic order Master's Thesis, School of Economics, The University of Queensland.

       
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Author Shoring, Peter Alan.
Thesis Title Australian economic prospects in a changing global economic order
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1979
Thesis type Master's Thesis
Total pages 186
Language eng
Subjects 14 Economics
Formatted abstract       The long-term structural changes in the Australian economy are projected on the basis of an exponential growth model in order to drive a future scenario for the year 2000. The exponential growth theory is at the heart of the Neo-Malthusian debate of global eco-doom. Australia’s growth trends and economic parameters are critically reviewed with the Neo-Malthusian thesis in perspective. The “lucky country” nature of Australia’s economy makes it an exception to the Neo-Malthusian global prognosis. In this context Australian has a special role to play in the emerging global order. The ever increasing articulation of developing economies for a New International Economic Oder (NIEO) gives this prospective role an added dimension based on social justice and equity. However, the thesis uses the familiar new-classical tenets in its analysis of the developing structural crisis in the Australian economy in the face of growing external pressures for liberalization of trade and support NIEO issues. What Australia’s, response should be to this issue is analysed and action programmes are postulated to usher the structural adjustment.

      Australia’s abundant resource endowment and comparative advantage in primary and mineral exports open prospects for collusion with the developing countries on the Integrated Program for Commodities (IPC) (UNCTAD in order to derive mutual long-term benefits by market price stabilisation schemes for these exports. The theoretical issues and the prospective benefits from centralization are appraised.

      The veritable "take-off" by its developing neighbourhood has special implications for Australia’s future growth prospects and these implications are examined. The' combination of the long-term macro and exogenous international economic factors demand positive policy responses and they are distilled in the conclusions. Recommendations based on the analysis, involve the acceptance of policies conforming with Australia’s long-term self interest, including IPC, cartelization, immediate industry restructuring, removal of distortions to the price mechanism and the provision of necessary infrastructure.

 
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Created: Wed, 20 Oct 2010, 13:14:46 EST by Muhammad Noman Ali on behalf of Social Sciences and Humanities Library Service