File(s) under permanent embargo
Microeconomic reform and productivity in Australia-boom or blip
conference contributionposted on 2005-01-01, 00:00 authored by Margaret McKenzie
The impact of microeconomic reform in Australia as indicated by aggregate productivity growth estimates is examined. Aggregate evaluations are few. The Productivity Commission / Australian Bureau of Statistics estimates of ‘market sector MFP’ since the mid 1960s showing recent increasing productivity growth for the Australian economy are examined. ‘Market sector’ series for 62 per cent of the economy are reconstructed for whole economy. The whole economy estimates add support to a spike shown in ‘multifactor’ productivity growth in the 1990s rather than sustained increase with a microeconomic reform as a factor. Simple regression estimates support the point findings and indicate the presence of unknown factors and cyclicality in the estimates.