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CEDA 40th Anniversary AGM Dinner. Dr Ken Henry 19 November 2001. 1. Industry sector shares. Source: ABS 5206.0. 2. Decade average GDP growth and volatility. 3. Decade average inflation rate. Source: ABS 6401.0. 4. Unemployment rate. Source:ABS 6202.0. - PowerPoint PPT Presentation
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DEPARTMENT OF THE TREASURY
CEDA 40th Anniversary AGM Dinner
Dr Ken Henry
19 November 2001
DEPARTMENT OF THE TREASURY
1. Industry sector shares
Source: ABS 5206.0
0
10
20
30
40
50
60
70
80
Agriculture Mining Manufacturing Other
0
10
20
30
40
50
60
70
80
1960s 1970s 1980s 1990s
Per cent Per cent
DEPARTMENT OF THE TREASURY
2. Decade average GDP growthand volatility
5.3
3.2 3.0
3.6
1.5
2.1
1.3
0.8
0.0
1.0
2.0
3.0
4.0
5.0
6.0
1960s 1970s 1980s 1990s
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Growth (LHS) Volatility (RHS)
Per cent Coefficient of variation
DEPARTMENT OF THE TREASURY
3. Decade average inflation rate
Source: ABS 6401.0
2.5
10.6
7.9
2.3
0
2
4
6
8
10
12
1960s 1970s 1980s 1990s
0
2
4
6
8
10
12Per cent Per cent
DEPARTMENT OF THE TREASURY
4. Unemployment rate
Source:ABS 6202.0
1
2
3
4
5
6
7
8
9
10
11
Mar-60 Dec-63 Sep-67 Jun-71 Mar-75 Dec-78 Sep-82 Jun-86 Mar-90 Dec-93 Sep-97 Jun-01
1
2
3
4
5
6
7
8
9
10
11Per cent Per cent
DEPARTMENT OF THE TREASURY
5. Decade average GDPper capita growth
Source: 5204.0
3.2
1.71.5
2.4
0
1
2
3
4
1960s 1970s 1980s 1990s
0
1
2
3
4Per cent Per cent
DEPARTMENT OF THE TREASURY
6. Decade average GDP per capita growth; Australia vs OECD
1.71.5
2.42.32.1
1.6
3.2
4.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
1960s 1970s 1980s 1990s
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
Australia OECD
Per cent Per cent
DEPARTMENT OF THE TREASURY
7. Trade Intensity (1960-01 to 2000-01)
25
27
29
31
33
35
37
39
41
43
45
1960-61 1965-66 1970-71 1975-76 1980-81 1985-86 1990-91 1995-96 2000-01
25
27
29
31
33
35
37
39
41
43
45
Trade Intensity
Per cent Per cent
DEPARTMENT OF THE TREASURY
8. Trade Intensity (1900-01 to 2000-01)
0
10
20
30
40
50
60
1900-01 1910-11 1920-21 1930-31 1940-41 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01
0
10
20
30
40
50
60
Trade Intensity
Per cent Per cent
DEPARTMENT OF THE TREASURY
9. Effective rate of tariff assistance*
*Includes tariff equivalent of quotas
0
20
40
60
80
100
120
140
160
180
1968-69 1973-74 1978-79 1983-84 1988-89 1993-94 1996-97
0
20
40
60
80
100
120
140
160
180
Textiles, clothing, footwear and leather Motor vehicles and parts
Others Total Manufacturing
Per cent Per cent
DEPARTMENT OF THE TREASURY
10. Structural Reform Timeline
Transport
Communications
National Competition Policy
Finance and Taxation
Traded Goods
1970 1980 1990
Utilities
DEPARTMENT OF THE TREASURY
11. Current account balance
Source: ABS 5302.0
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
1959/601964/651969/701974/751979/801984/851989/901994/951999/00
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
Current Account Balance
Balance on goods & services
Net income deficit (incl. net transfers)
Per cent of GDP Per cent of GDP
DEPARTMENT OF THE TREASURY
12. Decade averageproductivity growth
0.0
0.5
1.0
1.5
2.0
2.5
3.0
1960s 1970s 1980s 1990s
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Labour Productivity Capital Deepening Multi-factor productivity
Per cent Per cent
DEPARTMENT OF THE TREASURY
13. Decomposition of GDP per capita growth
Multi-factor productivity
Capital deepening
Average hours worked
Unemployment rate
Participation rate
Population of working age
Labour productivity
Labour employed as proportion of population
GDP per capita
DEPARTMENT OF THE TREASURY
14a. Components of GDP per capita growth - working age population
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
DEPARTMENT OF THE TREASURY
14b. Components of GDP per capita growth - participation rate
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
DEPARTMENT OF THE TREASURY
14c. Components of GDP per capita growth - unemployment rates
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
DEPARTMENT OF THE TREASURY
14d. Components of GDP per capita growth - average hours worked
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
Employment effect
DEPARTMENT OF THE TREASURY
15. Average weekly hours worked
34
35
36
37
38
39
40
60-61 64-65 68-69 72-73 76-77 80-81 84-85 88-89 92-93 96-97 00-01
34
35
36
37
38
39
40
Hours / Employment
Hours per week Hours per week
DEPARTMENT OF THE TREASURY
14d. Components of GDP per capita growth - average hours worked
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
Employment effect
DEPARTMENT OF THE TREASURY
14e. Components of GDP per capita growth - capital deepening
Employment effect
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participationrate
Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
DEPARTMENT OF THE TREASURY
14f. Components of GDP per capita growth - multi-factor productivity
Employment effect
Labour productivity (hours)
-15
5
25
45
65
85
105
125
145
Population ofworking age
Participation rate Unemploymentrate
Average hoursworked
Capitaldeepening
Multifactorproductivity
GDP per capita
-15
5
25
45
65
85
105
125
145Per cent Per cent
DEPARTMENT OF THE TREASURY
CEDA 40th Anniversary AGM Dinner
Dr Ken Henry
19 November 2001