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Privatisation and economic growth: the shorthand of a long process

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posted on 2005-01-01, 00:00 authored by Margaret McKenzie
The macroeconomic impact of privatisation on growth in Australia is investigated in a growth accounting framework. Separate measures of public and private capital are computed in order to estimate their impacts together with labour on GDP growth for the period 1960-2003. Previous empirical aggregate studies are relatively few. A simple growth rates version is found preferred by stationarity and other tests. Growth of labour input appears to have a strongly positive effect on the growth of GDP. In contrast, growth of public capital has no statistically significant effect on GDP growth, nor on private capital productivity. The data are consistent with the hypothesis that the coefficients of the growth equation are the same before and during privatisation.

History

Series

School Working Paper - Economics Series ; SWP 2005/21

Pagination

1 - 24

Publisher

Deakin University, School of Accounting, Economics and Finance

Place of publication

Geelong, Vic.

Language

eng

Publication classification

CN.1 Other journal article

Copyright notice

2005, The Authors