R&D activity can play a central role in raising productivity.
Innovation is key to boosting Australia’s productivity and inclusiveness.
English, PDF, 100kb
This country note from Going for Growth 2017 for Australia identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
Australia’s economy has enjoyed considerable success in recent decades, gross domestic product per capita is high and the country generally ranks favourably in well-being
Further structural reform is required to raise productivity growth through a better climate for business and stronger R&D outcomes.
This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.
The government’s current review of the federal system, focusing on both spending and tax responsibilities, is welcome, as is the “whole of government” approach to the process.
English, PDF, 93kb
This country note from Going for Growth 2015 for Australia identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
Australia has recently seen a slowdown in growth, with declining resource-sector investment, weak commodity prices and hesitant investment elsewhere in the economy, although the exchange-rate depreciation is helping the economy to adjust.
Australia has weathered the global economic crisis relatively well and enjoyed robust growth in per capita income, fostered by favourable terms of trade and high employment rates. However, productivity gains have slowed in recent years and the level remains below that of leading OECD countries.