Productivity Profile of Australia
National level: the Productivity Commission, the Treasury and the Department of Industry, Science, Energy and Resources conduct analysis related to productivity issues;
State level (non-exhaustive): Independent Pricing and Regulatory Tribunal (New South Wales), New South Wales Productivity Commission, Queensland Productivity Commission, South Australian Productivity Commission;
Ad hoc task forces: numerous task forces have been commissioned on policy issues that have strong linkages to productivity (in addition to work commissioned through the Productivity Commission). One recent example is the The ‘Harper Competition Review’ (2015).
Treasury: Measuring productivity dispersion in selected Australian industries (2019), Productivity enhancing labour reallocation in Australia (2019);
Ad Hoc: Harper Competition Policy Review (2015);
OECD: Economic Surveys Australia (multiple).
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Latest OECD Recommendations
Ensuring good conditions in general for business while exerting pressure for strong domestic competition are key for Australia’s productivity potential particularly given the small size of local markets and distance from major world markets. There has been a welcome policy campaign to boost innovation, though more could be done.
- Concentrate on improving conditions for business in general, including through adopting lighter product standards, paring back professional and occupational licensing and reducing operating restrictions in shipping.
- Strengthen competition: pay particular attention to energy and telecommunications, develop more competitive delivery systems for human services such as health, welfare and education.
- Further strengthen university-business linkages.