Australia: Recent Economic Developments

April 17, 1997

Summary

This paper reviews developments in the Australian economy during the prolonged expansion of the 1990s. The focus is on developments in the real sector, public finances, monetary policy, and the balance of payments during 1996–97. The paper reviews longer-term developments in the labor market in Australia, examining the causes of the trend rise in unemployment. In particular, it examines the role played by the traditional, centralized industrial relations system and discusses the efforts to encourage enterprise bargaining and establish a more flexible labor market.

Subject: Banking, Budget planning and preparation, Economic sectors, Employment, Expenditure, External debt, Labor, Public financial management (PFM), Public sector

Keywords: Asia and Pacific, balance of payments, budget deficit, Budget planning and preparation, CR, Employment, exchange rate, fiscal policy, Global, ISCR, monetary policy, Pacific Islands, percent of GDP, private sector, Public sector, retained earnings, Southeast Asia, state government, terms of trade, unemployment rate

Pages:
95
Volume:
1997
DOI:
https://doi.org/10.5089/9781451801941.002
Issue:
022
Series:
Country Report No. 1997/022
Stock No:
1AUSEA0011997
ISBN:
9781451801941
ISSN:
1934-7685

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