The thesis investigates factors that contributed to Australia's record breaking economic expansion. The booming mining sector fueled by Chinese demand for raw material deserves some credit, but it is only part of the story. The thesis examines whether Australia learned from the last recession in the early 1990s and also finds that high average population growth driven by immigration policy has played a role. I attempt to extract lessons from the island nation’s experience for other advanced economies. Finally, Australia had relatively small real GDP growth during the Global Financial Crisis. If the definition of a recession is adapted to include other national accounts and economic indicators, then the country did in fact encounter a recent economic downturn.
| Identifer | oai:union.ndltd.org:CLAREMONT/oai:scholarship.claremont.edu:cmc_theses-2930 |
| Date | 01 January 2018 |
| Creators | Layman, Katherine |
| Publisher | Scholarship @ Claremont |
| Source Sets | Claremont Colleges |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | CMC Senior Theses |
| Rights | default |
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