Australia's comparative advantage

Abstract

Government has identified the �opportunities and challenges of an economy in transition� as a key issue for Australia as it faces a rapidly changing global environment. In seeking to �Secure Australia�s Future�, this multidisciplinary research project aimed to identify Australia�s distinctive strengths and comparative advantages; establish which contexts and policy settings encourage creativity and innovation, adaptability and resilience; and explore the natural, geographical, economic, social, cultural, and scientific attributes and capabilities needed to thrive as a nation. In commissioning this project in October 2012, the aims of the Office of the Chief Scientist were to address issues including, but not limited to: the characteristics of Australia�s environment, biodiversity, location, cultural composition and other distinctive contexts that define the niches in which we can prosper in the global environment; what makes us unique and/or attractive as partners in R&D, industry and innovation; and the advantages we can build on that will assist us in positioning ourselves to enhance productivity, innovation, fairness and equity.