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[ABSTRACT FROM AUTHOR]

This paper explores migrant Black African youths' experiences of looking for and finding work in Newcastle, a deindustrializing Australian city. Data for this paper were drawn from interviews conducted with young people who migrated to Australia as temporary and permanent residents. Drawing on concepts of coloniality, racialization, bodywork, and hidden labor, this paper demonstrates how, when looking for work, participants' names get attached to their racialized bodies—a situation which deems them as suitable or not for specific kinds of work. Their strategies of finding work differ according to their migration status; that is, temporary residents draw on their personal networks, whereas some permanent residents with full citizenship rights rely on social welfare support services to find work. However, irrespective of the different strategies used to find work, they all end up doing jobs that they described as "work which others do not wish to do." I argue that these experiences re‐articulate the coloniality of labor because, as workers in these jobs, they play a crucial role in the economic transformation taking place in the city due to deindustrialization. This is not merely because they form part of the workforce responsible for working in unwanted jobs, but because they are also consumers of Newcastle's emerging welfare support and educational services sectors. The paper contributes to an understanding of how race shapes the labor market experiences of racialized youth in deindustrializing labor markets. [ABSTRACT FROM AUTHOR]

The Australian Government's White Paper ' Australia in the Asian Century' is the first large-scale official look in the twenty-first century at economic change in Asia and how it affects Australian opportunities and challenges. This paper comments on the analysis embodied in and the objectives defined by the White Paper, especially as it relates to Australian resources. This paper generally endorses the aspirations of the White Paper and notes that their achievement is going to require efforts and changes beyond those that are currently contemplated. It comments briefly on six things: the development context of twenty-first century Asian growth; growth and structural change in Asia and Australia's terms of trade; macroeconomic management of a resource-intensive Australian economy; restoring productivity growth; excellence in education; and linking Australia to Asian opportunity. [ABSTRACT FROM AUTHOR]

With a market capitalisation of over $1.84 trillion dollars and large annual flows, the Superannuation Guarantee has been regarded as the backbone of Australia's retirement policy scheme and a primary driver of economic growth. However, losses encountered in the aftermath of the global financial crisis led to a major review of superannuation, mainly in response to the lack of accountability, comparability, and transparency discovered within 'default' investment options. An outcome of this review was the My Super initiative, which imposes obligations on fund providers to reconfigure their default investment strategies in accordance with new regulatory requirements. Despite these policy reforms, other challenges remain, such as gender inequality, excessive superannuation fees, low financial literacy, and lack of member participation in growing retirement savings. The paper provides a review of literature pertaining to the background, significant policy changes, and ongoing development of the Australian superannuation system. We emphasise the role of superannuation in the economy; characteristics of the industry, plans, and funds on offer; recent policy initiatives; and perceived inadequacies of the system. The paper concludes with possibilities for further empirical research. [ABSTRACT FROM AUTHOR]

The Colombo Plan and Point Four program were programs that provided technical and economic assistance to the newly independent countries of Southeast Asia. They represented Commonwealth and American attempts to promote economic development in the region. This paper will investigate how these policies, which were framed by US policy‐makers and academics, were adopted in Australia. In so doing, it will demonstrate the ways that development was perceived as an important consideration in the foreign policies of both Australia and the United States. It will also examine the place of these programs in the Cold War and postcolonial world of the 1950s. As this paper will show, the interaction of these factors would affect Australian foreign policy for decades to come, revealing much about the complex nature of the Australian‐American relationship. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine the positive impact that the creation of food processing hubs can have on "smart specialisation" on the economic development of regional Australia. The analysis looks at two existing developments in Australia, as well as providing an economic evaluation of another "regional hub" that is currently being proposed. Our paper provides an economic impact analysis of the proposed establishment of a food processing hub in Victoria. It presents an analysis on its impact both at a regional level (Gippsland), and more widely across Australia. [ABSTRACT FROM AUTHOR]

The paper uses various approaches: capital asset pricing, mean-variance, global minimum-variance, Bayes-Stein, Bayesian and multi-prior to develop foreign equity bias measures for Australia’s international equity holdings in 41 countries, over the period 2001 to 2012. Bayesian models allow for various degrees of mis-trust in the ICAPM model. Multi-Prior restricts the expected return for each asset to lie within specified confidence interval around its estimated value. Mean-Variance computes optimal weights by sample estimates of mean and covariance matrix of sample return. Bayes-Stein shrinks each asset’s historical mean return toward the return of the minimum variance portfolio and improves precision associated with estimating the expected return of each asset. The plausible sources of foreign equity bias are trade, GDP per capita, real GDP growth rate, exchange rate volatility, tax credit, stock market development, familiarity and institution variables. The paper finds that economic cost of the observed foreign bias is low. The paper analyses correlation effect on the foreign bias and finds that economic loss decreases with an increase in correlation. [ABSTRACT FROM AUTHOR]

There is strong evidence that innovation is a primary driver of a nation's economic growth. As Australia continues to compete in the global economy, it is imperative that businesses should be innovative to improve their performance. In this paper, we evaluate the status and main drivers of innovation in small businesses in the food sector in Australia. Discrete choice modelling and bootstrapping procedures are applied to a panel of firm‐level data collected through the ABS Business Characteristics Survey (2006–2007 to 2010–2011 for the Australian Bureau of Statistics' Business Longitudinal Database Confidential Unit Record File) to investigate the factors affecting the likelihood of small food businesses to innovate. Results show that businesses are more likely to innovate if they collaborate, have higher information and communication technology intensity, and use science, technology, engineering and mathematics skills. We also found that small food businesses, even at the subsector level, do combine different types of innovation when innovating. The propensity to innovate also increases for small businesses that have flexible working arrangements, face moderate‐to‐strong market competition, operate overseas and seek finance through debt and equity. The relative importance of these factors was found to vary between agricultural and nonagricultural food subsectors. [ABSTRACT FROM AUTHOR]

Increasing numbers of Australian students are travelling overseas to undertake short‐term work‐integrated learning placements with community development organisations. In light of recent criticisms emerging in academic and public commentary on short‐term international volunteering, this paper highlights the need for a support curriculum that caters for students from diverse discipline backgrounds, often with little or no previous understanding of community development principles or intercultural engagement. In doing so, we question who is best placed to develop an appropriate curriculum and what might it look like. We draw on Macquarie University's Professional and Community Engagement community development programme to critically reflect on the importance of engaging with diverse knowledge frameworks, approaches to learning and subject expertise of our international community partners. In particular, this paper showcases a community‐based development module co‐created with community partners that aims to encourage students to rethink western‐dominated understandings of development, poverty and inequality. To conclude, we explore how co‐creating curriculum with community partners unsettles assumptions of the university as the only site of expert knowledge and knowledge‐making practices, and reflect on the challenges encountered as we try to contribute to the development of socially and environmentally conscious students. [ABSTRACT FROM AUTHOR]

The Australian economy experienced very frequent and sizeable terms of trade shocks. These shocks at times were more pronounced than commodity exporting developing countries and disproportionately benefited the extreme top end of income distribution. Did they derail overall economic progress? Circumstantial evidence suggests that they did not, but hard econometric evidence appears to be rare. In this paper, I revisit the Australian resource curse question from a long‐run perspective. Using time series data on commodity prices, real GDP, real wages, non‐farm GDP, manufacturing share of GDP, and manufacturing share of employment covering the period 1900 to 2007, I find very little evidence of a resource curse. Commodity booms in general and positive agricultural price shocks in particular appear to have impacted the rest of the economy positively both in short‐ and long‐run. The positive effect is primarily led by expansion in manufacturing. This is perhaps reflective of trade protection, labour and credit market flexibility, and relatively open skilled migration in Australia especially during the post‐war period. [ABSTRACT FROM AUTHOR]

Significant investments in developing technological innovations have been made in the Australian beef industry but with low adoption rates. By modelling the key variables and their interactions in the innovation adoption process, this research seeks to demonstrate the complexity and dynamics of the process. This research uses causal loop modelling and develops a holistic model of the current innovation adoption system in the Australian beef industry to show the complexity of dynamic interactions among multiple variables. It is suggested that innovation adoption is such an extremely complex issue, and we need to shift our views on this issue from a paradigm of linear thinking to systems thinking. Innovation adoption is more likely to be enhanced based on a full understanding of the complexity and dynamics of the system as a whole. The paper demonstrates to practitioners and developers of innovation the multiple variables and interactions impacting innovation adoption. Copyright © 2014 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

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Gough Whitlam's Labor government came to office in December 1972 with a vast and transformative reform agenda, at the heart of which was a fundamental policy shift in Aboriginal affairs away from assimilation and toward self‐determination, described by Whitlam as; 'Aboriginal communities deciding the pace and nature of their future development as significant components within a diverse Australia'. Whitlam's commitment to self‐determination reflected the United Nation's International Covenant on Civil and Political Rights, which refers to the right of all peoples to 'freely determine their political status and freely pursue their economic, social and cultural development'. Whitlam made it clear that Aboriginal Affairs would be a priority of his government with the establishment of the first separate Ministry for Aboriginal Affairs and his government introduced a suite of path‐breaking policies for Aboriginal people. Pat Dodson, the inaugural chairperson of the Council for Aboriginal Reconciliation, later described the change in policy and intent under Whitlam as, 'a transforming sentiment in this country for Aboriginal people'. This article explores the key features of Whitlam's Indigenous policy and argues that Whitlam's commitment to self‐determination was a unique and radical policy reframing in Indigenous affairs not seen before or since. These advances were wound back by the conservative government of Malcolm Fraser and the 'transforming sentiment' soon reverted to one of 'self‐management' and unarticulated assimilation. This article explores the key elements of the Whitlam government's commitment to self‐determination, described as 'Aboriginal communities deciding the pace and nature of their future development', as the defining feature in Indigenous policy. The paper argues that Indigenous self‐determination was a unique policy reframing specific to the Whitlam government which was rapidly over‐turned by the Fraser conservative government. [ABSTRACT FROM AUTHOR]

Abstract: The development of start‐up communities is seen as critical to the successful development of entrepreneurship in a region. However, it remains unclear what exactly start‐up communities are and how they can be facilitated. Ambiguity concerning the geographical scale and membership of start‐up communities leads to different conceptualisations. In this paper, we apply communities of practice (CoP) theory to understand how conceptualisations of start‐up communities work and how they can be facilitated. To this end, we qualitatively study start‐up communities in Sydney, Melbourne and Canberra, Australia. Our results show that start‐up communities that are confined to a particular workspace strongly resemble a CoP. Furthermore, many elements of CoPs can also be found in regional start‐up communities. Finally, we find that workspace communities have more direct and top‐down facilitation activities, while regional start‐up communities have more indirect and bottom‐up facilitation activities. [ABSTRACT FROM AUTHOR]

China's remarkable economic development has had profound domestic and international effects. Among the most important of these is China's growing impact on the region of which it is an increasingly important and influential part. For countries such as Australia, which has rapidly become deeply economically integrated with - even dependent on - China, this presents a major and much-discussed challenge as it tries to balance economic and strategic priorities. Australia provides an important and revealing illustration of how China's elites view key states in its region, which have assumed a growing economic and even strategic importance. This paper aims to develop a more comprehensive overview of the way the strategic, economic and political dimensions of the Sino-Australia relationship are understood in both countries. It also highlights the importance of realist thinking in both Australia and China. [ABSTRACT FROM AUTHOR]

This paper examines the extent to which sectoral trends and fluctuations in the Australian economy can be understood using international trade theory and knowledge of key policy developments. It suggests they are consistent with theory, but it also reveals several features that make Australia's economy unusual. The most striking are the facts that (i) the agricultural sector's share of GDP remained fairly constant rather than falling during 1860-1960 and even during the latest mining boom; and (ii) the farm sector continued to enjoy a strong comparative advantage despite periodic spurts of growth in mining exports. [ABSTRACT FROM AUTHOR]

The influence of agriculture on Australia's nineteenth and twentieth century economic development is well known. While wool's contribution is rightly celebrated, the contribution of agricultural crops has received less attention. This paper focuses on one major staple, wheat, from 1861 to 1939. Both patent data and a new measure of technological progress, the cumulative number of wheat varieties tested for local adoption, are used to quantify the contribution of agricultural innovation to growth. We find innovation in this sector made an important contribution to the growth of total factor productivity over the period. [ABSTRACT FROM AUTHOR]

The question of what constitutes the discipline of business history has been the focus of ongoing debate for several decades. The output of business history researchers is diverse ranging from company histories to the application of theoretical frameworks used to interpret the many facets of business development. This article, in introducing this special edition of the Australian Economic History Review, provides an overview of the development of the business history discipline and the contribution it has made to understanding the operation of business enterprises and the markets in which they operate. [ABSTRACT FROM AUTHOR]

Ecological modernization has become a popular policy choice to mitigate negative effects on the environment. Rather than promoting radical changes, ecological modernization combines economic development with the limitation of environmental damage through technological advances. Such ideas are reflected in emissions trading schemes, which take a market approach to offer incentives to reduce greenhouse gas emissions. This paper compares the development of emissions trading schemes in Australia and South Korea to explore the factors that contribute to the adaptation of ecological modernization policies. The two countries share a dependence on energy-intensive industries for economic growth, but the debate on emission policies is dominated by different actors, offering alternative scenarios for the adaptation of ecological modernization in domestic policies. The role of business interests and civil society as well as priorities on the political agenda also differentiate the two cases, highlighting the role of political networks in the process of ecological modernization and the depth of such policies. [ABSTRACT FROM AUTHOR]

The major political parties support the tenet of the original GST agreement that GST change requires unanimous state approval. However, GST change could differentially affect state economies, and thus influence support from individual states. We investigate the potential for GST change to differentially affect state economies. We do this by developing a multi‐regional model of the Australian economy that contains details of the legislated features of the GST. In this model, when we change any element of the GST, the economic effects are informed by regional differences in economic structure and their interactions with the details of our GST theory. [ABSTRACT FROM AUTHOR]

I construct a monthly index of economic uncertainty for Australia. Economic uncertainty rose to historically high levels during the financial crisis and remained elevated until late 2013. The index is: higher around recessions, elections, monetary policy surprises and some major events; tends to increase faster than it decreases; and is driven by both domestic and foreign factors. I use the index to assess how uncertainty affects the Australian economy. Consistent with the 'real options' channel of uncertainty, I find that it reduces investment and employment growth. Similarly, uncertainty raises the household saving ratio, consistent with the 'precautionary savings' channel. [ABSTRACT FROM AUTHOR]

The article focuses on the economic growth and employment in Australia. Topics discussed include a forecast in economy showing slow development of multi-factor productivity (MFP), maintaining full employment by investment contraction, and requirements for orderly adjustment (OA) like improving international competitiveness. Also it mentions fall in real wages, adjustments in internal prices to achieve OA and ways to deal with currency devaluation to improve productivity.

This study examines the effect of education export on economic growth and development, using Australia as a case study since it is one of the top destinations for international students. International education has played a vital role in Australia's economy over the last three decades, becoming the third‐largest export of Australia after iron ore and coal and earning AU$40.3 billion in 2019. The sector supports about 250,000 jobs and provides an important source of skilled migrants for Australia. This study employs the cointegration and error correction model and quarterly data from 1974 to 2019 to analyse the effect of internationalisation of education on the Australian economy. The results suggest a long‐run positive relationship and a short‐run dynamic effect of international education on the economic growth and employment of Australia. The findings of this study have far‐reaching implications for other education‐exporting countries. Policy recommendations suggest taking proactive, flexible and innovative approaches to attract international students, and diversifying the market can support growth of the sector and enhance the economy‐wide spillover effects. The study further proposes sound and timely policies to promote the internationalisation of education to augment not only economic growth but also long‐run development for both education‐exporting and education‐receiving countries. [ABSTRACT FROM AUTHOR]

This study examines the role of resource abundance in the cross‐country differences in the impacts of the global financial crisis (GFC) of 2008–2009. Using forecasts from the unobserved components model and exponential smoothing technique, we estimate the output levels a country would reach in 2009 and 2013 in the absence of the GFC, and compare these with the realised output levels. We find large variations in the output losses across 72 countries. The mineral‐rich countries have been found to be in a strong position to survive any adverse shocks stemming from the GFC. Income per capita, trade openness, and institutional quality and government effectiveness are also found to be key factors determining the differences in output loss in the post‐crisis period. These findings have strong implications for resource‐rich countries such as Australia and are expected to shed new light on alternative policy designs and appropriate strategies to deal with any future economic crisis. [ABSTRACT FROM AUTHOR]

Australia has been aggressively pursuing skilled migrants to sustain its population and foster economic growth. However, many skilled migrants experience a downward career move upon migration to Australia. Based on a survey of recent skilled migrants, this study investigates how individual (age, years of settlement, qualifications), national/societal (citizenship and settlement), and organization‐level (climate of inclusion) factors influence their career success. Overall, we found that: (1) age at migration matters more than length of settlement in predicting skilled migrant career success; (2) citizenship uptake and living in a neighbourhood with a greater number of families from the same country of origin facilitate post‐migration career success; and (3) perceptions of one's social/informal networks in the workplace – a dimension of perceived organizational climate of inclusion – also have a positive impact on migrant career outcomes. [ABSTRACT FROM AUTHOR]

Regional and remote tourism in Australia is characterised by micro‐, small‐ and medium‐sized businesses, spatially dispersed and fragmented. Characteristics which present unique challenges for these communities attempting to develop tourism as a way of diversifying their economy. This study explored the views and experiences from residents and businesses in six remote local government areas in South Western Queensland to identify the barriers and enablers for remote communities to using tourism as a driver of economic and social‐cultural growth. We found a lack of understanding of the structure and behaviour of the tourism industry; a lack of business acumen; a lack of financial and human resources; and a reluctance to collaborate by tourism businesses to be barriers to tourism‐led economic growth. Enablers to tourism led growth included: local government support for tourism development; a sound understanding of the mechanics and structure of the tourism industry; and the capacity to engage in marketing that captured and narrated the visitor experience in digital channels. [ABSTRACT FROM AUTHOR]

Compared with its competitors, Australian GDP per worker grew exceptionally quickly from the 1820s to the 1870s, at a rate about twice that of the US and three times that of Britain. Did this rapid growth produce rising inequality, following a Kuznets curve? Using a novel dataset, this article offers new evidence that provides unambiguous support for the view that, in sharp contrast with the US experience and with globalization‐inequality views concerning late nineteenth‐century frontiers, Australia underwent a revolutionary levelling in incomes up to the 1870s. This assessment is based on trends in many proxies for inequality, as well as annual estimates of functional income shares in the form of land rents, convict payments, free unskilled labour incomes, free skilled labour and white collar incomes, British imperial transfers, and a capitalist residual. [ABSTRACT FROM AUTHOR]

Abstract: The aim of this article is to comment on ‘Healthier Australians’, Chapter 2 in the Productivity Commission's report Shifting the Dial. The report elevates health and wellbeing to a central role in lifting the nation's productivity. The main recommendations centre around better information in the health care system and improving the architecture of the system to ensure more decentralised decision making. If acted upon, these solid building blocks could provide significant opportunities to save lives and improve the health of the population and the wealth of the country. [ABSTRACT FROM AUTHOR]

The article discusses trends, updates, and outlook for the Australian economy. Topics explored include the gross domestic product (GDP), consumption, and unemployment rates recorded from 2017 to 2018, international economic developments in the U.S., Europe, and China which could impact Australia, and the contribution of non-mining business investments to Australian economic growth.

Slack OECD economic performance and weaker macroeconomic policy support Summers's reuse of the phrase 'secular stagnation'. Globalisation has redirected growth towards emerging economies, and anticipated rates of return on investment are impaired by perceived risk, institutionalised risk aversion, ageing and dependency, declining commitments to public investment and research and development with rising shares directed to health, retained trade distortions, industrial concentration and slower human capital accumulation, not to mention unexpected global abundance of fossil fuels and a slower Chinese economy. The information and literature supporting these concerns is reviewed and implications for global and Australian policy are inferred. [ABSTRACT FROM AUTHOR]

This article reviews Australia's unemployment experience since the Global Financial Crisis. First, developments in the rate of unemployment since the Global Financial Crisis are described. Second, the main drivers of the increase in the rate of unemployment that has occurred are established. Third, some aspects of recent experience that have received substantial attention-such as increasing youth unemployment and growing regional dispersion in unemployment rates-are considered. Studying the history of the Australian labour market reveals that these features always accompany cyclical downturns. Fourth, policy options for dealing with unemployment are evaluated. [ABSTRACT FROM AUTHOR]

This empirical study explores financial links between indigenous and non-indigenous economic systems in a remote river catchment in Northern Australia (the Mitchell). It finds evidence of a profound and asymmetric 'disconnect' between these economies: an exogenous increase in indigenous incomes raises the incomes of non-indigenous people, but the reverse is not true. Evidently, those seeking to improve the incomes of indigenous people in Northern Australia cannot simply seek to ( i) increase payments to indigenous people, or ( ii) expand the non-indigenous sector hoping that some benefits will 'trickle down'. Instead, structural change is required. [ABSTRACT FROM AUTHOR]

While the commercial ambitions of indigenous capitalists are continuously displayed in Australia, little is known about the origins and initial development of the class. In this essay one area of the country, the north-west of Western Australia ( WA), is chosen to show how changes in the principal agricultural industry opened space for Aboriginal commerce. Despite the opposition of State governments and existing firms that dominated cattle and sheep production, this space was enlarged as pastoralism underwent major changes. The rise of the indigenous bourgeoisie was also facilitated by the growing power of the class's political representatives in electoral and in executive politics. Parallel with changes in Australian federalism, which gave the national government increased financial and other powers, Aboriginal representatives captured this shift for commercial advantage. [ABSTRACT FROM AUTHOR]

This article discusses structural changes and emerging policy issues in the Australian petrol industry. The evolution of wholesale markets is a globalisation story: rapid economic growth in countries like China and India is bringing global crude and petrol prices to historical levels and creating significant changes in Australian petrol refining and distribution. In the retail market, recent anti-trust cases have centred on information technology, specifically online platforms that aim to inform firms and consumers of petrol prices. I discuss these and other developments that are creating new challenges for the Australian Competition and Consumer Commission. [ABSTRACT FROM AUTHOR]

We examine the joint influence of post-acquisition integration management and acquisition focus on long-run post-acquisition performance. We develop a financial measure related to integration that is based on changes in net purchases/disposals of physical assets. For a sample of acquisitions by Australian listed firms, we find that the main effects and the interaction of our integration measure and focus are related to performance in the direction suggested by theory. Our results suggest that inconsistencies in previous studies of the focus-performance relation are partly explained by the failure to consider the post-acquisition asset management strategies. [ABSTRACT FROM AUTHOR]

The introduction of income management - sometimes called welfare quarantining - for subgroups of Australian income security recipients within the Northern Territory, and subsequently a number of other trial sites, has provoked considerable contention. The present study critically examined the arguments and evidence presented in favour of income management with particular reference to the guidelines, methodology and findings of official evaluations conducted by the Commonwealth Government. We identified five key issues that do not seem to be adequately addressed by official evaluations: choice and control, the quality of decision making, consultation with local community members, structural disadvantage and economic cost. We used these concepts to develop a proposed alternative model for assessing the impact of income management on local communities. [ABSTRACT FROM AUTHOR]