Privatization and economic growth in Australia: the shorthand of a long process

McKenzie, Margaret 2008, Privatization and economic growth in Australia: the shorthand of a long process, Applied economics, vol. 40, no. 15, pp. 1953-1967.

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Title Privatization and economic growth in Australia: the shorthand of a long process
Author(s) McKenzie, Margaret
Journal name Applied economics
Volume number 40
Issue number 15
Start page 1953
End page 1967
Publisher Chapman and Hall
Place of publication London, England
Publication date 2008-08
ISSN 0003-6846
1466-4283
Keyword(s) privatization
economic growth
Australian economy
Summary The impact of privatization on economic growth has been little investigated relative to disaggregated approaches. A growth accounting framework is used here to investigate the impact of privatization on growth for the  Australian economy. The contribution of public capital to the private sector and whether the growth process is endogenous or Solow is evaluated. Separate measures of public and private capital are computed in order to estimate their impacts with labour on Australian gross domestic product (GDP) growth for the period 1960 to 2003. A simple growth rates version is found preferred by stationarity and other tests. Labour growth appears to strongly positively influence the growth of GDP. In contrast, public capital growth has no statistically significant effect on GDP growth, or on private capital productivity. The data are consistent with the hypothesis that the coefficients of the growth equation are the same before and during privatization.
Language eng
Field of Research 140212 Macroeconomics (incl Monetary and Fiscal Theory)
Socio Economic Objective 910199 Macroeconomics not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2007
Copyright notice ©2008, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30007670

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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