Effects of Economic Integration and Liberalization in Australia (1980 to Present)

Open Access
Author:
Farooqui, Imran Ahmed
Area of Honors:
Finance
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Fariborz Ghadar, Thesis Supervisor
  • James Alan Miles, Honors Advisor
Keywords:
  • Australia
  • economics
  • GDP
  • integration
  • liberalization
  • global competitiveness
  • economic outlook
  • inflation
  • economic growth
Abstract:
Beginning in the 1980s Australia underwent economic integration and liberalization to increase competitiveness globally as well as construct a productive and efficient economy. This analysis provides a succinct background of Australia, a study of their economy of from the 1980s to present day, an inspection of the effects of economic events changes during the time period mentioned, and plans for the economic future of Australia. The hope is to provide readers with an overall understanding of Australia’s economic structure, which can be used by potential investors to make critical investment decisions about businesses/stocks. Australia showed strong ties of government and economy leading into the 1980s, which proved to hinder their ability to grow as an economy at a higher level (outlined by GDP growth, inflation rate and other economic factors). Strong ties of government and economy led to a limited ability to fully integrate with the rest of the world. However, with changes in economic policies and changes to the internal structure of the economic procedures within Australia, Australia’s economy grew immensely. Large increases in total GDP (Gross Domestic Product), stabilization in the inflation rate and a strong Australian dollar have given proof that Australia is capable of being an investment safe haven in the future for global investors.