Australia : 1997-1998 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development Staff, Corporate Author.

Contributor:

Organisation for Economic Co-operation and Development, contributor.

Series:

OECD Economic surveys (Series)

OECD Economic Surveys

Language:

English

Subjects (All):

Economic history.

Australia--Economic conditions--1975-.

Australia.

Australia--Economic policy--1975-.

Physical Description:

1 online resource (193 pages).

Edition:

1st ed.

Place of Publication:

Paris : OECD Publishing, [1998]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and short-term prospects -Re-accelerating output growth -Sluggish employment and persistent high unemployment -Low inflation -A narrowing current external deficit -The outlook to 1999 II. Macroeconomic policies -Monetary policy -Fiscal policy I II. Implementing structural reform: a review of progress -Industrial relations reform -Active labour market policies -Education and training -Reform of the health care system -Implementing the National Competition Policy -Unfinished infrastructure industry reforms -Tariff policy -Reform of the financial system -Tax reform IV. Current issues in corporate governance -Corporate governance in Australia: an international perspective -Current issues -Assessment V. Entrepreneurship -Measuring entrepreneurship -Factors affecting entrepreneurship -The role of public authorities -Assessment -List of acronyms -Bibliography Annex -I. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and short-term prospects

Re-accelerating output growth

Table 1. Demand and output

Figure 1. THE CURRENT EXPANSION COMPARED

Figure 2. CONTRIBUTION TO GDP GROWTH

Figure 3. BUSINESS FIXED INVESTMENT

Figure 4. HOUSING AFFORDABILITY

Sluggish employment and persistent high unemployment

Table 2. The labour market

Figure 5. OUTPUT AND EMPLOYMENT

Figure 6. PATTERNS OF EMPLOYMENT

Low inflation

Table 3. Costs and prices

Figure 7. INTERNATIONAL COMPARISON OF CONSUMER PRICES

A narrowing current external deficit

Table 4. Current account trends

Figure 8. COMPETITIVENESS AND TRADE

The outlook to 1999

Current economic indicators and policy assumptions

Prospects

Table 5. Short-term prospects

II. Macroeconomic policies

Monetary policy

The setting of monetary policy

Figure 9. THE PERFORMANCE OF MONETARY POLICY

Table 6. Changes in official interest rates 1994-97

The response of financial markets

Figure 10. NOMINAL INTEREST RATES

Figure 11. CREDIT TO THE PRIVATE SECTOR

Figure 12. INTERNATIONAL COMPARISON OF LONG-TERM INTEREST RATES

Figure 13. REAL INTEREST RATES

Figure 14. EXCHANGE RATES

What is the current stance of monetary policy?

Figure 15. MONETARY CONDITIONS INDICATOR AND THE TAYLOR RULE

Fiscal policy

The FY 1996/97 Commonwealth budget out-turn

Table 7. Commonwealth budget developments

The FY 1997/98 Commonwealth budget

Table 8. Budget measures and forecasts

Figure 16. UNDERLYING BUDGET BALANCE

Figure 17. REVENUES AND UNDERLYING OUTLAYS

The outlook for States/local government

The outlook for general government

Debt

Figure 18. NET DEBT

The stance of fiscal policy

Assessment

III. Implementing structural reform: a review of progress.

Table 9. Implementing the OECD Jobs Strategy: an overview

Table 9. Implementing the OECD Jobs Strategy: an overview (continued)

Industrial relations reform

Table 10. Key developments in the federal industrial relations system

A new role for the federal award system

Australian Workplace Agreements

Certified Agreements

Freedom of association

Industrial action

Unfair dismissals

Harmonisation of federal and State systems

Active labour market policies

A new framework

Work for the Dole

Education and training

Reform of the health care system

Casemix funding

General Practitioner (GP) numbers

Private health insurance

Long-term residential care for the elderly

Pharmaceutical Benefits Scheme

Implementing the National Competition Policy

Table 11. Real GDP per capita

Box 1. Intergovernmental agreements on national Competition policy

Table 12. Business telecommunications charges

Unfinished infrastructure industry reforms

Tariff policy

Figure 19. TOTAL FACTOR PRODUCTIVITY IN THE BUSINESS SECTOR

Figure 20. EFFECTIVE RATES OF ASSISTANCE IN MANUFACTURING

Reform of the financial system

Financial safety

Systemic stability and payments

Conduct and disclosure

Mergers and acquisitions

Implementation

Tax reform

Figure 21. MARGINAL INCOME TAX RATES, 1995

Table 13. Social security contributions and taxes on individual income and payrolls, 1995

Figure 22. SOURCE OF TAX REVENUE, 1995

Table 14. Average effective tax rates on capital and labour

IV. Current issues in corporate governance

Box 2. The role of corporate governance

Corporate governance in Australia: an international perspective

Table 15. Market capitalisation of listed domestic equity issues at year-end

Table 16. Large share-holdings: an international comparison.

Table 17. Ownership of exchange-listed firms

Table 18. Business sector investment-output ratios

Table 19. Rates of return on capital in the business sector

Current issues

The composition of boards

The duties of directors

The quality of financial disclosure

The role of institutional investors

Table 20. Substantial shareholdings in All Ordinaries Index companies

Shareholders' access to legal recourse

The regulation of take-overs

V. Entrepreneurship

Box 3. The Australian business sector: an overview

Measuring entrepreneurship

Table 21. A snapshot of the Australian business sector

Figure 23. ENTERPRISES AND EMPLOYMENT BY INDUSTRY

Figure 24. EXPORT PERFORMANCE IN SOUTH EAST ASIA

Table 22. Enterprises and enterprise creation by States and Territories

Factors affecting entrepreneurship

Table 23. Registration requirements and costs in a sample of OECD countries for three legal forms

Table 23. Registration requirements and costs in a sample of OECD countries for three legal forms (continued)

Table 24. Bankruptcy proceedings

Table 25. Compliance costs in small enterprises

Table 26. Labour force status of workforce by region of birth, 1981

Figure 25. VENTURE CAPITAL

Table 27. International comparison of informal investor characteristics

The role of public authorities

Table 28. Government support for the business sector

Table 29. Formal co-operation between companies

List of acronyms

Notes

Bibliography

Annex. Calendar of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Selected background statistics

Table B. Gross domestic product

Table C. Income and expenditure of households (including unincorporated enterprises)

Table D. Prices and wages

Table E. Balance of payments.

Table F. Foreign trade by commodity

Table G. Foreign trade by area

Table H. Production structure and performance indicators

Table I. Labour market indicators

Table J. The public sector

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

BOXES

TABLES

Table 9. Implementing the OECD Jobs Strategy: an overview

Table 16. Large share-holdings: an international comparison

Table 17. Ownership of exchange-listed firms

Table 22. Enterprises and enterprise creation by States and Territories.

Table 23. Registration requirements and costs in a sample of OECD countries for three legal forms

FIGURES

Figure 25. VENTURE CAPITAL.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-15135-4

OCLC:

1225544632