Articles on GDP

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Worst hit by the Asian financial crisis in 1998, Indonesia’s economy has returned to pre-crisis growth rates. What lessons are there for Greece? Flickr/Cillian Storm

Can Greece learn from the story of Indonesia in the Asian financial crisis?

European financial woes are mounting daily is what some have called the biggest economic challenge of our generation. However, just over a decade ago an even larger financial crisis was unfolding in Australia’s…
What’s the true picture of Chinese economic stimulus? China’s decision to cut interest rates actually has modest implications for Australia. AAP

China’s economy: thinking beyond the short run

Last week’s decision by China to cut interest rates by 0.25% seemed to attract almost as much attention in Australia as the same decision by the Reserve Bank of Australia (RBA) several days earlier. The…
Australia’s economy is in rude health - yet people’s fears of imminent economic disaster are not groundless. AAP

Grim faces as GDP booms: what is happening here?

A simple line graph of the share of mining investment in Australia’s GDP reveals the scale of what our economy is going through. It shows that mining investment is now twice as large relative to GDP as…
Increasing workforce participation of women and older people could increase Australia’s GDP by $50 billion. AAP

How can Australian governments change the game for economic growth?

If Australian governments are serious about raising rates of economic growth, they must reform the tax mix and increase the workforce participation rates of women and older people. Each of these reforms…
By lifting female participation in the workforce as much as 6%, Australia could boost its GDP by $25 billion. AAP/Sergio Dionisio

Widen GST, increase female and older workers to lift GDP

Widening the GST net and boosting workforce participation by women and older people could grow GDP by $70 billion within…
Size does matter: rather than be concerned about achieving a surplus or a deficit, the government should be focusing on how to manage its debt. AAP

Don’t forget the debt: there’s more to fiscal prudence than a return to surplus

Treasurer Swan’s commitment to bring the government budget into surplus in 2012-13 may be a political imperative, but is not good economics. The focus for prudential fiscal management should instead be…
IMF head Christine Lagarde sees some positives in global economic growth: but we should be wary of broad projections. AAP

Trouble lurks for Australia amid shallow economic forecasts

The recent economic forecasts of the IMF and OECD about prospects for economic growth remind me of an aphorism about the economist who drowned while crossing a river he estimated that was, on average…
Reserve Bank of Australia Governor Glenn Stevens: knowing how individuals board members think is important. AAP

Shadowing the RBA: uncertainty matters when it comes to interest rates

Monetary policymaking is imperfect. When board members of a central bank such as the Reserve Bank of Australia sit down to set the appropriate target cash rate each month - as they did this week - there…
A slowdown in China’s economy is not yet cause for concern in Australia. AAP

Will Australia’s economy roar in the Year of the Dragon?

These days, most economic commentators in Australia sing from the same hymn sheet when it comes to discussing our economic prospects: while the ongoing gloom in the US and the outright deterioration in…
Our obsession with growth stops us taking meaningful action on climate change. Flickr/hfabulous

Can we let go of growth and embrace climate action?

While global warming deniers have been effective in their aim of sowing doubt in the public mind, the most powerful argument used over and over has been that cutting emissions will cut growth, and that…

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