Transmission of a resource boom: The case of Australia
Renee Fry-McKibbin () and
CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University
This paper presents evidence on the macroeconomic adjustment of a resource-rich country to a resource boom using the effects of Chinese industrialisation on Australia from 1988 to 2016. An SVAR model is specified, incorporating a proxy for Chinese resource demand and commodity prices to identify the effects of commodity supply and demand shocks on the Australian macroeconomy. We develop a multivariate historical decomposition to show how resource sector shocks lead the economy to deviate from a long-run projection. The paper identifies four phases of the transmission of the resource boom before its conclusion in 2015.
Keywords: Chinese resource demand; SVAR; multivariate historical decomposition; commodity demand shock; commodity supply shock (search for similar items in EconPapers)
JEL-codes: C51 E32 F43 F62 (search for similar items in EconPapers)
Pages: 31 pages
New Economics Papers: this item is included in nep-mac and nep-opm
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Journal Article: Transmission of a Resource Boom: The Case of Australia (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2019-63
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