IDEAS home Printed from https://ideas.repec.org/p/adl/wpaper/2004-01.html
   My bibliography  Save this paper

Australian Economic Growth in Historical Perspective

Author

Listed:
  • Ian W. McLean

    (School of Economics, University of Adelaide)

Abstract

This article reviews recent contributions to the evidence on, and interpretations of, the long-run growth of the Australian economy. It is noted that several themes currently prominent in growth theory and empirical growth analysis are reflected in the recent literature on the Australian historical experience. Copyright © 2004 Economic Society of Australia..
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ian W. McLean, 2004. "Australian Economic Growth in Historical Perspective," School of Economics and Public Policy Working Papers 2004-01, University of Adelaide, School of Economics and Public Policy.
    • Handle: RePEc:adl:wpaper:2004-01
    as

    Download full text from publisher

    File URL: https://media.adelaide.edu.au/economics/papers/doc/wp2004-01.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Pope, David & Withers, Glenn, 1993. "Do Migrants Rob Jobs? Lessons of Australian History, 1861–1991," The Journal of Economic History, Cambridge University Press, vol. 53(4), pages 719-742, December.
    3. John Luke Gallup & Jeffrey D. Sachs & Andrew D. Mellinger, 1998. "Geography and Economic Development," NBER Working Papers 6849, National Bureau of Economic Research, Inc.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    5. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    6. John Luke Gallup & Jeffrey D. Sachs & Andrew Mellinger, 1999. "Geography and Economic Development," CID Working Papers 01A, Center for International Development at Harvard University.
    7. Mark Rogers, 2003. "A Survey of Economic Growth," The Economic Record, The Economic Society of Australia, vol. 79(244), pages 112-135, March.
    8. Les Oxley & David Greasley, 1995. "A Time‐Series Perspective on Convergence: Australia, UK and USA since 1870," The Economic Record, The Economic Society of Australia, vol. 71(3), pages 259-270, September.
    9. Taylor, Alan M., 1992. "External Dependence, Demographic Burdens, and Argentine Economic Decline After the Belle Époque," The Journal of Economic History, Cambridge University Press, vol. 52(4), pages 907-936, December.
    10. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    11. O'Rourke, Kevin H, 2000. "Tariffs and Growth in the Late 19th Century," Economic Journal, Royal Economic Society, vol. 110(463), pages 456-483, April.
    12. Ville,Simon, 2010. "The Rural Entrepreneurs," Cambridge Books, Cambridge University Press, number 9780521125949, October.
    13. A. R. Hall, 1963. "Some Long Period Effects Of The Kinked Age Distribution Of The Population Of Australia 1861–1961," The Economic Record, The Economic Society of Australia, vol. 39(85), pages 43-52, March.
    14. McLean Ian W., 1994. "Saving in Settler Economies: Australian and North American Comparisons," Explorations in Economic History, Elsevier, vol. 31(4), pages 432-452, October.
    15. Broadberry, Stephen N., 1998. "How Did the United States and Germany Overtake Britian? A Sectoral Analysis of Comparative Productivity Levels, 1870–1990," The Journal of Economic History, Cambridge University Press, vol. 58(2), pages 375-407, June.
    16. Taylor, Alan M & Williamson, Jeffrey G, 1994. "Capital Flows to the New World as an Intergenerational Transfer," Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 348-371, April.
    17. Mr. Arvind Subramanian & Mr. Francesco Trebbi & Mr. Dani Rodrik, 2002. "Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development," IMF Working Papers 2002/189, International Monetary Fund.
    18. Davis,Lance E. & Gallman,Robert E., 2001. "Evolving Financial Markets and International Capital Flows," Cambridge Books, Cambridge University Press, number 9780521553520, October.
    19. Gallup, John & Sachs, Jeffrey, 1999. "Geography and Economic Development," Harvard Institute for International Development (HIID) Papers 294434, Harvard University, Kennedy School of Government.
    20. McLean, Ian W. & Pincus, Jonathan J., 1983. "Did Australian Living Standards Stagnate between 1890 and 1940?," The Journal of Economic History, Cambridge University Press, vol. 43(1), pages 193-202, March.
    21. Kelley, Allen C., 1965. "International Migration and Economic Growth: Australia, 1865–1935," The Journal of Economic History, Cambridge University Press, vol. 25(3), pages 333-354, September.
    22. La Croix, Sumner J., 1992. "Property rights and institutional change during Australia's gold rush," Explorations in Economic History, Elsevier, vol. 29(2), pages 204-227, April.
    23. Siriwardana, Mahinda, 1996. "The Economic Impact of Tariffs in the 1930s in Australia: The Brigden Report Re-examined," Australian Economic Papers, Wiley Blackwell, vol. 35(67), pages 370-389, December.
    24. Gallup, J.L. & Sachs, J.D. & Mullinger, A., 1999. "Geography and Economic Development," Papers 1, Chicago - Graduate School of Business.
    25. C. B. Schedvin, 1979. "Midas and the Merino: A Perspective on Australian Economic Historiography," Economic History Review, Economic History Society, vol. 32(4), pages 542-556, November.
    26. Crafts, Nicholas, 2002. "The Human Development Index, 1870–1999: Some revised estimates," European Review of Economic History, Cambridge University Press, vol. 6(3), pages 395-405, December.
    27. John Luke Gallup & Jeffrey D. Sachs & Andrew D. Mellinger, 1999. "Geography and Economic Development," International Regional Science Review, , vol. 22(2), pages 179-232, August.
    28. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1231-1294.
    29. Ian W. McLean & Alan M. Taylor, 2001. "Australian growth: a California perspective," Pacific Basin Working Paper Series 2001-06, Federal Reserve Bank of San Francisco.
    30. Bryan Haig, 1989. "International Comparisons Of Australian Gdp In The 19th Century," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 35(2), pages 151-162, June.
    31. Anonymous, 1959. "Economic and Social Council," International Organization, Cambridge University Press, vol. 13(4), pages 569-582, October.
    32. Nicholas Crafts, 1998. "Forging Ahead and Falling Behind: The Rise and Relative Decline of the First Industrial Nation," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 193-210, Spring.
    33. Anonymous, 1959. "Economic and Social Council," International Organization, Cambridge University Press, vol. 13(3), pages 441-445, July.
    34. Ian W. McLean, 1988. "Growth in a Small Open Economy: A Historical View," School of Economics and Public Policy Working Papers 1988-05, University of Adelaide, School of Economics and Public Policy.
    35. C.B. Schedvin, 1990. "Staples and regions of Pax Britannica," Economic History Review, Economic History Society, vol. 43(4), pages 533-559, November.
    36. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
    37. Anonymous, 1959. "Economic and Social Council," International Organization, Cambridge University Press, vol. 13(1), pages 137-144, January.
    38. Paul A. Cashin, 1995. "Real Gdp In The Seven Colonies Of Australasia: 1861–1991," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 41(1), pages 19-39, March.
    39. Kenneth L. Sokoloff & Stanley L. Engerman, 2000. "Institutions, Factor Endowments, and Paths of Development in the New World," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 217-232, Summer.
    40. John Luke Gallup & Jeffrey D. Sachs & Andrew Mellinger, 1999. "Geography and Economic Development," CID Working Papers 1, Center for International Development at Harvard University.
    41. McLean, Ian W, 1982. "The Demand for Agricultural Research in Australia, 1870-1914," Australian Economic Papers, Wiley Blackwell, vol. 21(39), pages 294-308, December.
    42. Prados de la Escosura, Leandro, 2000. "International Comparisons of Real Product, 1820-1990: An Alternative Data Set," Explorations in Economic History, Elsevier, vol. 37(1), pages 1-41, January.
    43. Romer, Paul M, 1996. "Why, Indeed, in America? Theory, History, and the Origins of Modern Economic Growth," American Economic Review, American Economic Association, vol. 86(2), pages 202-206, May.
    44. Anonymous, 1959. "Economic and Social Council," International Organization, Cambridge University Press, vol. 13(2), pages 288-294, April.
    45. Dowrick, Steve & Nguyen, D T, 1988. "A Re-assessment of Australian Economic Growth in the Light of the Convergence Hypothesis," Australian Economic Papers, Wiley Blackwell, vol. 27(51), pages 196-212, December.
    46. repec:bla:ecorec:v:71:y:1995:i:213:p:132-44 is not listed on IDEAS
    47. Whitwell & Christine de Souza & Stephen Nicholas, 1997. "Height, Health, and Economic Growth in Australia, 1860-1940," NBER Chapters, in: Health and Welfare during Industrialization, pages 379-422, National Bureau of Economic Research, Inc.
    48. Gallup, John L. & Sachs, Jeffrey D. & Mellinger, Andrew, "undated". "Geography and Economic Development," Instructional Stata datasets for econometrics geodata, Boston College Department of Economics.
    49. David Greasley & Les Oxley, 1998. "A Tale of Two Dominions: Comparing the Macroeconomic Records of Australia and Canada Since 1870," Economic History Review, Economic History Society, vol. 51(2), pages 294-318, May.
    50. Michael A. Clemens & Jeffrey G. Williamson, 2001. "A Tariff-Growth Paradox? Protection's Impact the World Around 1875-1997," NBER Working Papers 8459, National Bureau of Economic Research, Inc.
    51. Cashin, P.A., 1993. "Economic Growth and Convergence Across the Seven Colonies of Australia: 1861-1991," Papers 688, Yale - Economic Growth Center.
    52. repec:bla:revinw:v:35:y:1989:i:2:p:151-62 is not listed on IDEAS
    53. Khan, B. Zorina, 2000. "Commerce and Cooperation: Litigation and Settlement of Civil Disputes on the Australian Frontier, 1860–1990," The Journal of Economic History, Cambridge University Press, vol. 60(4), pages 1088-1119, December.
    54. repec:bla:ecorec:v:71:y:1995:i:214:p:259-70 is not listed on IDEAS
    55. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Douglas, Niall Edward, 2006. "What is the evidence on the role of foreign direct investment in economics growth, and on the determinants of foreign direct investment flows?," MPRA Paper 13651, University Library of Munich, Germany.
    2. Richard B. Freeman, 2006. "Learning from Other Economies: The Unique Institutional and Policy Experiments Down Under," The Economic Record, The Economic Society of Australia, vol. 82(257), pages 195-206, June.
    3. Kris Inwood & Les Oxley & Evan Roberts, 2008. "Physical stature and its interpretation in nineteenth century New Zealand," Working Papers in Economics 08/22, University of Canterbury, Department of Economics and Finance.
    4. Edwyna Harris, 2008. "Colonialism And Long‐Run Growth In Australia: An Examination Of Institutional Change In Victoria'S Water Sector During The Nineteenth Century," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 48(3), pages 266-279, November.
    5. Abel Gwaindepi, 2022. "Fiscal capacity in ‘‘responsible government’’ colonies: the Cape Colony in comparative perspective, c. 1865–1910 [The spread of empire: Clio and the measurement of colonial borrowing costs]," European Review of Economic History, European Historical Economics Society, vol. 26(3), pages 340-369.
    6. Rajabrata Banerjee, 2012. "Population Growth and Endogenous Technological Change: Australian Economic Growth in the Long Run," The Economic Record, The Economic Society of Australia, vol. 88(281), pages 214-228, June.
    7. Rajabrata Banerjee & John K. Wilson, 2016. "Roles of Education in Productivity Growth in Australia, 1860–1939," The Economic Record, The Economic Society of Australia, vol. 92(296), pages 47-66, March.
    8. Monica J. Keneley, 2012. "The Development of the Institutional Investor: The Case of Australian Life Insurers 1945–85," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 52(3), pages 270-292, November.
    9. Geoffrey Brooke & Lydia Cheung, 2019. "Body Sizes in Nineteenth Century New Zealand: An Empirical Investigation using the NZ Contingents in the Second Boer war," Working Papers 2019-05, Auckland University of Technology, Department of Economics.
    10. Rajabrata Banerjee & Martin Shanahan, 2016. "The Contribution of Wheat to Australian Agriculture from 1861 to 1939," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 56(2), pages 125-150, July.
    11. Meissner, Christopher M., 2014. "Growth from Globalization? A View from the Very Long Run," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 8, pages 1033-1069, Elsevier.
    12. Jorge Álvarez & Henry Willebald, 2013. "Agrarian income distribution, land ownership systems, and economic performance: Settler economies during the first globalization," Documentos de trabajo 30, Programa de Historia Económica, FCS, Udelar.
    13. Paresh Kumar Narayan & Russell Smyth, 2007. "What Explains Dissent on the High Court of Australia? An Empirical Assessment Using a Cointegration and Error Correction Approach," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 4(2), pages 401-425, July.
    14. Apergis, Nicholas & Cooray, Arusha, 2015. "Asymmetric interest rate pass-through in the U.S., the U.K. and Australia: New evidence from selected individual banks," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 155-172.
    15. Kris Ivanovski & Sefa Awaworyi Churchill & John Inekwe, 2020. "Convergence in Income Inequality Across Australian States and Territories," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 148(1), pages 127-142, February.
    16. Boyd D. Blackwell & Jim A. McFarlane & Andrew M. Fischer & Brian E. Dollery, 2017. "Diversifying Cores but Stagnant Peripheries: Mining and Other Industry Employment Contributions to Development in Local Government Areas of the Northern Territory," Economic Papers, The Economic Society of Australia, vol. 36(3), pages 317-334, September.
    17. Malcolm Abbott & Jill Bamforth, 2022. "Determining the reasons for the failure of British aircraft manufacturers to invest in Australia's industry, 1934–1941," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 62(2), pages 105-122, July.
    18. Xavier Tafunell & Cristián Ducoing, 2015. "Non-residential capital stock in Latin America. 1875-2008," Economics Working Papers 1472, Department of Economics and Business, Universitat Pompeu Fabra.
    19. Kris Inwood & Les Oxley & Evan Roberts, 2010. "Physical Stature In Nineteenth‐Century New Zealand: A Preliminary Interpretation," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 50(3), pages 262-283, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ian W. McLean & Alan M. Taylor, 2001. "Australian Growth: A California Perspective," NBER Working Papers 8408, National Bureau of Economic Research, Inc.
    2. Rodríguez-Pose, Andrés & Ketterer, Tobias, 2016. "Institutions vs. ‘First-Nature’ Geography – What Drives Economic Growth in Europe’s Regions?," CEPR Discussion Papers 11322, C.E.P.R. Discussion Papers.
    3. Bennett, Daniel L. & Faria, Hugo J. & Gwartney, James D. & Morales, Daniel R., 2017. "Economic Institutions and Comparative Economic Development: A Post-Colonial Perspective," World Development, Elsevier, vol. 96(C), pages 503-519.
    4. Tobias D. Ketterer & Andrés Rodríguez‐Pose, 2018. "Institutions vs. ‘first‐nature’ geography: What drives economic growth in Europe's regions?," Papers in Regional Science, Wiley Blackwell, vol. 97(S1), pages 25-62, March.
    5. Mauricio Cárdenas, 2007. "Economic Growth in Colombia : a reversal of "fortune"?," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 25(53), pages 220-259, January.
    6. Lubna Hasan, 2007. "Myths and Realities of Long-run Development: A Look at Deeper Determinants," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(1), pages 19-44.
    7. Naritomi, Joana & Soares, Rodrigo R. & Assunção, Juliano J., 2012. "Institutional Development and Colonial Heritage within Brazil," The Journal of Economic History, Cambridge University Press, vol. 72(2), pages 393-422, May.
    8. Braunfels, Elias, 2016. "Further Unbundling Institutions," Discussion Paper Series in Economics 13/2016, Norwegian School of Economics, Department of Economics.
    9. Natkhov, T. & Polishchuk, L., 2017. "Political Economy of Institutions and Development: The Importance of Being Inclusive. Reflection on "Why Nations Fail" by D. Acemoglu and J. Robinson. Part I. Institutions and Economic Devel," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 12-38.
    10. W. A. Naudé, 2004. "The effects of policy, institutions and geography on economic growth in Africa: an econometric study based on cross-section and panel data," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(6), pages 821-849.
    11. Fagerberg, Jan & Srholec, Martin & Verspagen, Bart, 2010. "Innovation and Economic Development," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 833-872, Elsevier.
    12. David Castells-Quintana & Maria del Pilar Lopez-Uribe & Tom McDermott, 2015. "Climate change and the geographical and institutional drivers of economic development," GRI Working Papers 198, Grantham Research Institute on Climate Change and the Environment.
    13. Kyriacou, Andreas P., 2016. "Individualism–collectivism, governance and economic development," European Journal of Political Economy, Elsevier, vol. 42(C), pages 91-104.
    14. Mitchener, Kris James & McLean, Ian W, 2003. "The Productivity of US States since 1880," Journal of Economic Growth, Springer, vol. 8(1), pages 73-114, March.
    15. Lopez-Uribe, Maria del Pilar & Castells-Quintana, David & McDermott, Thomas K. J., 2017. "Geography, institutions and development: a review ofthe long-run impacts of climate change," LSE Research Online Documents on Economics 65147, London School of Economics and Political Science, LSE Library.
    16. Nikolaev, Boris & Boudreaux, Christopher & Salahodjaev, Rauf, 2017. "Are individualistic societies less equal? Evidence from the parasite stress theory of values," Journal of Economic Behavior & Organization, Elsevier, vol. 138(C), pages 30-49.
    17. Joana Naritomi & Rodrigo R. Soares & Juliano J. Assunção, 2007. "Rent Seeking and the Unveiling of 'De Facto' Institutions: Development and Colonial Heritage within Brazil," NBER Working Papers 13545, National Bureau of Economic Research, Inc.
    18. Rok Spruk, 2019. "The rise and fall of Argentina," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 28(1), pages 1-40, December.
    19. Maximiliano Marzetti & Rok Spruk, 2023. "Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(1), pages 60-95, March.
    20. You, Jong-Sung & Khagram, Sanjeev, 2004. "Inequality and Corruption," Working Paper Series rwp04-001, Harvard University, John F. Kennedy School of Government.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:adl:wpaper:2004-01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Qazi Haque (email available below). General contact details of provider: https://edirc.repec.org/data/decadau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.