The Performance of Resource-exporting Economies

Ellis Connolly, Jarkko Jääskelä and Michelle van der Merwe
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Ellis Connolly: Reserve Bank of Australia
Jarkko Jääskelä: Reserve Bank of Australia
Michelle van der Merwe: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2013, 19-30

Abstract: The surge in demand for resources over the past decade led to sharp increases in the terms of trade not just for Australia, but also for other economies with comparable resource exports such as Brazil, Canada, Chile, Russia and South Africa. Each of these economies experienced an increase in investment, although the surge in resources investment in Australia has been particularly large. The real exchange rates in these economies appreciated, weighing on other trade-exposed industries, while parts of the non-traded sector benefited from the boost to income and activity from the resources boom. In general, the resource-exporting economies experienced relatively strong growth in economic activity and inflation remained well contained, particularly compared with previous booms in resource prices.

Keywords: terms of trade; investment; real exchange rate; structural change; resource prices; Australia; Brazil; Canada; Chile; Russia; South Africa; macroeconomic policy; inflation; GDP growth; LNG; iron ore; coal; China (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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