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Abstract

This paper presents evidence on the macroeconomic adjustment of a resource‐rich country to a resource boom using the effects of Chinese industrialization 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.

Item Type:	Article
Authors/Creators:	Dungey, M and Fry-Mckibbin, F and Volkov, V
Keywords:	resource boom, Australia
Journal or Publication Title:	Oxford Bulletin of Economics and Statistics
Publisher:	Wiley-Blackwell Publishing Ltd
ISSN:	1468-0084
DOI / ID Number:	10.1111/obes.12352
Copyright Information:	© 2019 The Department of Economics, University of Oxford and JohnWiley & Sons Ltd.
Related URLs:	Google Scholar: Dungey, M UTAS Profile: Dungey, M UTAS Profile: Volkov, V
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