RECOVERY FROM DEPRESSION: AUSTRALIA IN AN ARGENTINE MIRROR 1895-1913

IanW. McLean

Australian Economic History Review, 2006, vol. 46, issue 3, pages 215-241

Abstract: The recovery from the 1890s depression in Australia was prolonged, and economic growth from 1895 to 1913 was below that in the comparable settler economies of Argentina and Canada. Why? Australia's hesitant initial recovery is typically attributed to the imbalances in the economy resulting from the preceding boom, and its further delay to severe drought. Drawing on Argentine experience, it is suggested that additional factors need to be considered. Unlike Argentina, the unwillingness or inability of Australian governments to reschedule foreign debt or devalue the exchange rate exacerbated the slump. And the era of low-cost pioneer farming ended earlier than in Argentina (or Canada). Copyright 2006 The Authors; Journal compilation Blackwell Publishing Asia Pty Ltd and the Economic History Society of Australia and New Zealand 2006.

Downloads: (external link)
http://www.blackwell ... &year=2006&part=null link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0004-8992

Access Statistics for this article

Australian Economic History Review is edited by Stephen L Morgan and Martin Shanahan

More articles in Australian Economic History Review from Blackwell Publishing Asia Pty Ltd and the Economic History Society of Australia and New Zealand
Contact information at EDIRC.
Series data maintained by Christopher F. Baum ().