Recovery from Depression: Australia in an Argentine Mirror: 1895- 1913

Ian W. McLean
Additional contact information
Ian W. McLean: University of Adelaide

Economic History from EconWPA

Abstract: The recovery from the 1890s depression in Australia was prolonged, and economic growth 1895-1913 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).

Keywords: Australia; 1890s depression; Argentina (search for similar items in EconPapers)
JEL-codes: N10 N16 N17 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
Date: Written
Note: Type of Document - pdf
View list of references

Downloads: (external link)
http://129.3.20.41/eps/eh/papers/0512/0512001.pdf (application/pdf)

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

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpeh:0512001

Access Statistics for this paper

More papers in Economic History from EconWPA
Series data maintained by EconWPA ().