A History of Foreign Multinational Enterprises in Australia from Federation. We aim to deliver the first history of foreign multinational firms in twentieth-century Australia, connecting to, and enhancing, a rich overseas literature on global business. Foreign corporations have played a critical but poorly understood role here with public and policy opinions polarised between approval for new investment, job creation and innovation against concern for their impact on tax revenue, competition, an ....A History of Foreign Multinational Enterprises in Australia from Federation. We aim to deliver the first history of foreign multinational firms in twentieth-century Australia, connecting to, and enhancing, a rich overseas literature on global business. Foreign corporations have played a critical but poorly understood role here with public and policy opinions polarised between approval for new investment, job creation and innovation against concern for their impact on tax revenue, competition, and economic policy. Through a closer, long term understanding of multinationals – their magnitude, motives to settle here, corporate structures, and adaptation to local conditions – our findings will inform public debate and policy about the roles of foreign investment and foreign enterprises in the Australian economy today.Read moreRead less
The Allocation of Risk and Economic Slumps. The aim of this project is to construct and analyse models that identify a novel feedback mechanism in which the distribution of investment risk interacts with aggregate employment variations. It will provide a useable framework for economic policy analysis in which the distribution of wealth affects the demand for investment risk while the distribution of production risk affects the supply of labour income risk.
The impact of globalisation on inequality in a small regional economy: South Australia 1845-1925. The impact of globalisation on income inequality is currently of great concern to many. Globalisation, however, is not a new phenomenon. This study examines the effect of global forces on wage and personal wealth inequality in South Australia in the 19th and early 20th century. While other studies have examined the impact of trade on inequality at an aggregate level, using questionable comparisons, ....The impact of globalisation on inequality in a small regional economy: South Australia 1845-1925. The impact of globalisation on income inequality is currently of great concern to many. Globalisation, however, is not a new phenomenon. This study examines the effect of global forces on wage and personal wealth inequality in South Australia in the 19th and early 20th century. While other studies have examined the impact of trade on inequality at an aggregate level, using questionable comparisons, this study represents a conceptual leap forward by directly estimating changes in income and wealth inequality, and their association with changes in wages, commodity and asset prices over an extended period in a small regional economy.Read moreRead less
Reassessing the role of industry associations through an examination of Australian and New Zealand wool marketing, 1890-1960. This is a study of organisational innovation in an internationally-important industry. Wool industry associations built and maintained a marketing organization, regionally and then nationally, that sold more than a half of the world's wool. Our long-term study assesses whether associations along the supply chain could replenish their social capital and remain adaptive and ....Reassessing the role of industry associations through an examination of Australian and New Zealand wool marketing, 1890-1960. This is a study of organisational innovation in an internationally-important industry. Wool industry associations built and maintained a marketing organization, regionally and then nationally, that sold more than a half of the world's wool. Our long-term study assesses whether associations along the supply chain could replenish their social capital and remain adaptive and flexible organisations in the face of marked changes in the environment. The nature of the web of connections between associations in the wool market deserves further study. If their cooperation made possible the institutions governing wool selling then government agencies may need to take a more nuanced approach to regulating inter-organizational collaboration.Read moreRead less
The Development of English Economic Vocabulary to 1776: the Formation of a Disciplinary Language. The language of economic science is fundamental to all social theory - and indeed, to how modern societies perceive themselves. Where does that vocabulary - both the language and the concepts carried by that language - come from? How did it develop? The aim of this research project is to clarify the answers to these two questions, up to the time at which political economy or economics became a matur ....The Development of English Economic Vocabulary to 1776: the Formation of a Disciplinary Language. The language of economic science is fundamental to all social theory - and indeed, to how modern societies perceive themselves. Where does that vocabulary - both the language and the concepts carried by that language - come from? How did it develop? The aim of this research project is to clarify the answers to these two questions, up to the time at which political economy or economics became a mature intellectual system - in Adam Smith's 1776 "Wealth of Nations". This will be the first such systematic and comprehensive book-length study of the formation of this disciplinary language ever attempted.Read moreRead less
A New Economic History of Australia. Australia is at a cross-roads. After almost a century of protectionism we have globally re-integrated and liberalised, as we were when we possessed the world's highest standard of living in the nineteenth century. But we have yet to truly rebuild our capability to compete well in a global knowledge economy and to do so sustainably and justly. It is the presumption of this Project that a new understanding of the role of human investment in our history can hel ....A New Economic History of Australia. Australia is at a cross-roads. After almost a century of protectionism we have globally re-integrated and liberalised, as we were when we possessed the world's highest standard of living in the nineteenth century. But we have yet to truly rebuild our capability to compete well in a global knowledge economy and to do so sustainably and justly. It is the presumption of this Project that a new understanding of the role of human investment in our history can help underpin a clearer understanding of the policy imperatives for our future. The Project will lead to an explicit and detailed policy agenda for re-shaping Australia's future so as to be again a clever country.Read moreRead less
New perspectives on Australian economic history: Geography, institutions and major episodes. This project will contribute directly to an improved knowledge of the determinants of the structure of economic activity, and macroeconomic performance and economic growth in Australia. Having a better understanding of the main influences on Australian economic growth will assist in the development of policies to promote these outcomes. The project will also make a significant addition to international ....New perspectives on Australian economic history: Geography, institutions and major episodes. This project will contribute directly to an improved knowledge of the determinants of the structure of economic activity, and macroeconomic performance and economic growth in Australia. Having a better understanding of the main influences on Australian economic growth will assist in the development of policies to promote these outcomes. The project will also make a significant addition to international knowledge in the field of new comparative economic history by adding an extra body of evidence to cross-country perspectives on the determinants of national economic performance that draws on Australia's distinctive geography and institutions. Finally, the project will provide valuable research training and skills.Read moreRead less
The World Economy, India and Exchange Banks: 1850 - 1914. This project aims to examine how exchange banks linked India to an expanding world economy between 1850 and 1914, and to show, in turn, how this process was defined by an imperial relationship that tied India to Britain. Its significance lies in the fact that while the exchange banks were central to the circulation of capital during this period, their crucial role in shaping the development of capitalism in India has been largely ignored. ....The World Economy, India and Exchange Banks: 1850 - 1914. This project aims to examine how exchange banks linked India to an expanding world economy between 1850 and 1914, and to show, in turn, how this process was defined by an imperial relationship that tied India to Britain. Its significance lies in the fact that while the exchange banks were central to the circulation of capital during this period, their crucial role in shaping the development of capitalism in India has been largely ignored. Expected outcomes include conference presentations, at least three articles, a monograph, and a digitised map that links time and space in outlining the spread of such banks.Read moreRead less
Business Profitability and Long Term Industrial Change in Twentieth-Century Australia. This project will establish Australia as a pioneer in longitudinal research into business profitability in terms of assembling new data and its use to analyse the relationship of profitability with capital formation and structural change in the economy. It will extend our knowledge of long-term returns to equity investment, a category of savings and pension funding now common to most Australians, and contribut ....Business Profitability and Long Term Industrial Change in Twentieth-Century Australia. This project will establish Australia as a pioneer in longitudinal research into business profitability in terms of assembling new data and its use to analyse the relationship of profitability with capital formation and structural change in the economy. It will extend our knowledge of long-term returns to equity investment, a category of savings and pension funding now common to most Australians, and contribute to our understanding of Australia's comparative business performance in light of current debates regarding the alleged limited global competitiveness and corporate governance shortcomings of leading Australian corporations.Read moreRead less
Made in the USA?: The Decline of the American Manufacturing Economy, 1950-2008. In a global economy, the decline of manufacturing industries has not just occurred in the U.S. but has also affected other high-wage labor markets, including Australia. As well as throwing light on this process in Australia, this project will show that deindustrialization is a transnational process and that many multinational firms have declined simultaneously in both countries. In a world where factory closings co ....Made in the USA?: The Decline of the American Manufacturing Economy, 1950-2008. In a global economy, the decline of manufacturing industries has not just occurred in the U.S. but has also affected other high-wage labor markets, including Australia. As well as throwing light on this process in Australia, this project will show that deindustrialization is a transnational process and that many multinational firms have declined simultaneously in both countries. In a world where factory closings constantly make headlines, the project also has considerable contemporary relevance in both countries.Read moreRead less