Citation
(2011), "Australia has hard times ahead", International Journal of Productivity and Performance Management, Vol. 60 No. 5. https://doi.org/10.1108/ijppm.2011.07960eaa.003
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited
Australia has hard times ahead
Article Type: From: International Journal of Productivity and Performance Management, Volume 60, Issue 5
A recent report by economists Saul Eslake and Marcus Walsh from the Grattan Institute, entitled “Australia’s Productivity Challenge”, delivers a worrying message about life after the resource boom ends.
“Australia’s rate of productivity growth accelerated dramatically during the 1990s, playing a vital role in lifting Australia’s macro-economic performance, and Australian standards of living, during that decade and since”, Eslake and Walsh say.
“There has been a no less dramatic deterioration in Australia’s productivity performance over the past decade, with the broadest measure of productivity growth actually having turned negative over the past five years”.
“Australia’s economic prospects beyond the end of the current ‘resources boom’ will deteriorate significantly (as they did in the 1970s and 1980s) if the decline is our productivity growth performance is not reversed”.