Industrial policy: The Australian experience

Bill (William) Mitchell

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Abstract

    Australia’s development demonstrates that it is possible for a small and open economy heavily reliant on primary commodity exports—and initially without a strong and diversified industrial base—to achieve high per capita income with the right mix of domestic and external policies. The country’s wealth of experience in industrial policy—particularly in building and dismantling tariff protection and direct skills formation—offers important insights into designing policy to promote economic diversification and international competitiveness. The state has played a central role in Australia’s industrial progress. Successive governments have recognized that the state has to be responsible for regulations that may limit market activity in the interests of economic stability, such as promoting competition through regulation. A comprehensive tariff protection regime initially helped the manufacturing sector become internationally competitive.
    Original languageEnglish
    Title of host publicationDevelopment and Modern Industrial Policy in Practice
    Subtitle of host publicationIssues and Country Experiences
    EditorsJesus Felipe
    Place of PublicationUnited Kingdom
    PublisherEdward Elgar Publishing
    Chapter11
    Pages279-319
    Number of pages41
    ISBN (Electronic)9781784715540
    ISBN (Print)9781784715533
    DOIs
    Publication statusPublished - 24 Apr 2015

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  • Cite this

    Mitchell, B. W. (2015). Industrial policy: The Australian experience. In J. Felipe (Ed.), Development and Modern Industrial Policy in Practice: Issues and Country Experiences (pp. 279-319). Edward Elgar Publishing. https://doi.org/10.4337/9781784715540.00018