'Riding on the Sheep's Back': Examining Australia's Dependence on Wool Exports

Posted: 22 Jan 1998

See all articles by Paul Anthony Cashin

Paul Anthony Cashin

International Monetary Fund (IMF)

C. John McDermott

National Bank of New Zealand

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Abstract

This paper extends the staple theory literature by examining the influence of wool, Australia's dominant primary-product export, on the development of the Australian economy and external position over the period 1862-1995. The results support the view that while shocks to the wool industry had significant effects on the Australian economy and external position in the period 1862-1929, after the Second World War the wool industry no longer played a dominant role in the evolution of the Australian economy.

JEL Classification: F14, F41, N57, Q17

Suggested Citation

Cashin, Paul Anthony and McDermott, C. John, 'Riding on the Sheep's Back': Examining Australia's Dependence on Wool Exports. Available at SSRN: https://ssrn.com/abstract=49168

Paul Anthony Cashin (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

C. John McDermott

National Bank of New Zealand ( email )

P.O. Box 540
Wellington
New Zealand

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