Sources of Australia's Productivity Revival

Parham, Dean

doi:10.1111/j.1475-4932.2004.00175.x

Cited by 77 publications

(65 citation statements)

References 52 publications

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“…Productivity Growth in Australian Agriculture Agricultural MFP growth in Australia during 1994-99 at 4.3% was higher than all other sectors and higher than for previous decades (Parham, 2004 estimated from ABS data). Agriculture's performance relative to that of the rest of the market economy has improved markedly since the mid 80s.…”

Section: 2mentioning

confidence: 85%

Agricultural research: Implications for productivity in New Zealand and Australia

Mullen

Scobie

Crean

2008

New Zealand Economic Papers

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R&D is as an important source of productivity growth in New Zealand and Australian agriculture. In this paper trends in public investment in R&D and in productivity growth are reviewed. Investment in R&D has been flat in both countries until an upturn in recent years in New Zealand. Nevertheless research intensity in Australia appears to have been higher than that in New Zealand. Productivity growth is also likely to have been higher. We review recent analyses and tentatively conclude that returns to investments in domestic research in both countries are likely to have been in the order of 15 - 20%.Productivity, research and development, research evaluation,

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Section: 2mentioning

confidence: 85%

Agricultural research: Implications for productivity in New Zealand and Australia

Mullen

Scobie

Crean

2008

New Zealand Economic Papers

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“…For example, the agriculture sector has experienced spillover productivity gains from government investment in transportation and communication infrastructure (Parham, 2004). Productivity growth in the wider economy could be a contributing factor to growth in agricultural productivity.…”

Section: Public Investment In Agricultural Randdmentioning

confidence: 99%

Public investment in agricultural R&D and extension

Zhang

Chen

Sheng

2015

China Agricultural Economic Review

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Purpose -The purpose of this paper is to analyze the effects of public investment in agricultural R&D and extension on broadacre farming productivity in Australia. Design/methodology/approach -An autoregressive integrated moving average (ARIMA) regression model is applied to estimate the effects of public investment in agricultural R&D and extension on Australian braodacre productivity. Findings -The study reveals that public investment in agricultural R&D and extension has contributed almost two-thirds of average annual broadacre productivity growth between 1952-1953 and 2006-2007, the average internal rate of return to public investment in agricultural R&D and extension was 28.4 and 47.5 per cent a year, respectively, and overseas spill-ins is an important source of domestic agricultural productivity growth. Practical implications -Policy implications: the findings suggest that increasing public investment in agricultural R&D and extension and maintaining agricultural R&D policy stability are equally important to have a sustained long-term agricultural productivity growth, and maintaining an open trade and investment regime is important to benefit from foreign knowledge spillovers which is especially important for developing countries. Originality/value -This paper contributes to the existing literature by employing more sophisticated econometric techniques with an extended data set for the period from 1952-1953 to 2006-2007. The study separates the contribution of public R&D investment and the extension investment, and also takes into account the contribution of overseas public investment on the TFP growth in the Australian broadacre sector.

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“…The progressive increase in capital accumulation since the early 1990s (Figure 2a) was closely linked with much higher investment in new technologies, especially those associated with the ICTs and the 'new economy'. 19 This sort of investment explains most of the increase in capital deepening (Banks, 2001) and is associated with the unprecedented period of rapid productivity growth in Australia, very much like the US one (see Parham, 2004). Increased international exposure also enhanced the performance of capital accumulation.…”

Section: -2006mentioning

confidence: 99%

“…2.0% 1970 1974 1978 1982 1986 1990 1994 1998 2002 2006 Regarding the acceleration in capital accumulation, Parham (2004) argues that it was important for the productivity revival in the 1990s. Although Parham (2004) The dynamic contributions of the exogenous variables to the evolution of unemployment are then measured as the difference between its actual and simulated values.…”

Section: Economic and Political Developmentsmentioning

confidence: 99%

“…Although Parham (2004) The dynamic contributions of the exogenous variables to the evolution of unemployment are then measured as the difference between its actual and simulated values. Therefore, the contribution of a given exogenous variable over a period of time represents how much would the unemployment rate have deviated from its actual value in the absence of any change in the variable.…”

Section: Economic and Political Developmentsmentioning

confidence: 99%

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Labour Market Dynamics in Australia: What Drives Unemployment?

Karanassou

Sala

2008

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post World Net. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly sidelined the role of capital stock as a determinant of employment (Webster, 2003). As far back as 1991, Pissarides had argued that the influence of capital stock on the performance of the labour market is crucial but not well understood, a research area which is particularly relevant for Australia. This paper attempts to fill this void by estimating a multi-equation labour market model comprising labour demand, wage setting and labour supply equations. The model is used to examine the causes of the unemployment upturn in 1973-1983 and the subsequent decline in 1993-2006. Our results show that (i) the main determinants of the unemployment rise in the 1970s and early 1980s were wage-push factors, the two oil price shocks and the increase in interest rates, and (ii) the acceleration in capital accumulation was the crucial driving force of unemployment in the 1990s and 2000s. Furthermore, although the recent boom in the terms of trade is equally important, its downward effect on unemployment was partially reversed by the resulting decrease in net foreign demand.JEL Classification: E22, E24, J21

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Sources of Australia's Productivity Revival

Cited by 77 publications

References 52 publications

Agricultural research: Implications for productivity in New Zealand and Australia

Agricultural research: Implications for productivity in New Zealand and Australia

Public investment in agricultural R&D and extension

Labour Market Dynamics in Australia: What Drives Unemployment?

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