Cycles in Non-mining Business Investment

Stephen Elias and Craig Evans
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Stephen Elias: Reserve Bank of Australia
Craig Evans: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2014, 01-06

Abstract: Growth in private non-mining business investment has been quite subdued over the past few years relative to the cyclical upswings seen in the 1980s and 1990s. Part of this weakness can be explained by cyclical factors that affect investment – such as a more moderate pace of growth in the output of, and demand for, non-mining goods and services. Further, the increasing importance of sectors of the economy that require less physical capital is likely to have weighed on non-mining investment in recent years. Nonetheless, non-mining investment is expected to pick up over time, supported by a gradual increase in the growth of domestic demand and accommodative monetary conditions.

Keywords: Australia; business investment; non-mining investment; business cycles (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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