Provide an analysis of the australian economic growth between 2005 - 2018

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Expert Solution

Australian economy has been the the most consistent economy of the world. Many measure which had been taken in the past decade or so has contributed in keeping it stable and growing.

The period since 1991 has seen the most growth. The benefit that has flowed from long processes of economic reform and the adoption of prudent and disciplined economic policies.

There had been a wide range of reforms to competition and industry policy implemented over past years.
Made the business sector more competitive and provided vision.
There had been many labor reforms between that period.

There was a significant variation in the growth among industries and the benefits of the growth were spread relatively widely across the states and across the income distribution of the population.

Now, the Australian economy is operating quite close to it's productivity , it will take the further improvement in productivity in disciplined policies for this growth to be sustained.

Rahul Sunny answered 1 year ago

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