Living standards, terms of trade and foreign ownership: Reflections on the Australian mining boom
Australia is experiencing its largest mining boom for more than a century and a half. This paper explores, from a national perspective, important economic differences that arise when a mining boom, such as the current one, is generated by sustained export price increases (trading gains) rather than export volume increases. Since 2003, the terms of trade changes - through their direct trading gain effect and indirect real GDP effects - have increased Australian living standards. The increase,...[Show more]
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|Source:||The Australian Journal of Agricultural and Resource Economics|
|01_Gregory_Living_standards,_terms_of_2012.pdf||873.14 kB||Adobe PDF||Request a copy|
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