Abstract
Investment is at the very heart of economic growth. In the short run, fluctuations in investment are a dominant source of fluctuations in growth. In the longer run, investment determines the capital stock and this, probably more than any other factor, determines the trends of growth in economic activity and employment.
Reserve Bank of Australia. We wish to thank other contributors to the conference and members of the Research Department at the Reserve Bank of Australia for helpful comments. In particular, we are grateful to Rob Trevor for assistance with econometric issues and Ian Russell and Michele Droop for assistance with computing issues. We also wish to thank Phil Graham, Wendy Vanke, Michelle Kelly and Jan Favorito for invaluable assistance with production. The views expressed in this chapter are our own and are not necessarily shared by our colleagues at the Reserve Bank.
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© 1989 Centre for Economic Policy Research
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Carmichael, J., Dews, N. (1989). Investment and Australian Economic Growth. In: Chapman, B. (eds) Australian Economic Growth. Palgrave, London. https://doi.org/10.1007/978-1-349-11084-1_6
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DOI: https://doi.org/10.1007/978-1-349-11084-1_6
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