Saturday, August 08, 2020

Nguyen Linh

The Global Financial Crisis (GFC) in Australia is a peculiar case for two reasons: First, Australia never quite suffered as heavily from its impact as other OECD countries, and second, this exceptional performance was, to a degree, not entirely attributable to nascent government regulation and fiscal policies. The role of the already established financial-banking sector and an extremely fortunately-timed mining boom seems to explain this success. This paper seeks to find the answer to two questions: First, “How large is the role of the mining boom and excellent financial basis in saving Australia?”, and second, “Which path shall the Australian economy take following the crisis?”.

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