Microeconomic reforms and the revival in Australia’s growth in productivity and living standards
نویسنده
چکیده
Microeconomic reforms were introduced from the mid-1980s to stem the slippage in growth in Australia’s productivity and living standards. Productivity growth more than doubled in the 1990s to reach a record high. A range of possible explanations for the productivity surge are examined in the paper. The three most plausible are microeconomic reforms; education and skills in the workforce; and the rapid uptake and smart use of information and communications technologies. To a certain extent, these three factors have interacted. The surge in productivity growth has underpinned growth in average incomes that is strong by both historical and international standards. ∗ Paul Roberts assisted with the preparation of this paper. Helpful comments on a previous draft were received from Productivity Commission colleagues and from Charlie Aspden of the ABS. The views expressed are those of the author and do not necessarily reflect the views of the Productivity Commission. Author’s email: [email protected].
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