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Drought, regions and the Australian economy between 2001-02 and 2004-05

Adams, Philip, Horridge, Mark, Madden, John R and Wittwer, Glyn (2002) Drought, regions and the Australian economy between 2001-02 and 2004-05. Australian Bulletin of Labour, 28 (4). pp. 231-246. ISSN 0311-6336

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Abstract

During 2002 Australia experienced a severe drought that has been one of the most widespread on record. The drought is expected to have a severe impact in 2002-2003 on agricultural output which on average is expected to be almost 30 per cent lower than the base case. Flow-on effects to the rest of the economy are expected to lower real GDP growth by a further 0.6 percentage points, leading to a total negative impact of the drought on GDP of 1.6 per cent. All mainland states of the economy are projected to experience a significant reduction in their gross state product and employment as a result of the drought. Given the widespread nature of the drought, all of Australia's most agricultural intensive regions are projected to be severely affected. The 17 worst-affected regions include all 14 of Australia's regions that had 20 per cent or more of their output in the agricultural sector.

Item Type: Article
Uncontrolled Keywords: droughts, agricultural, Australian economy, impact analysis, gross domestic product, employment forecasting, statistics
Subjects: FOR Classification > 1402 Applied Economics
Faculty/School/Research Centre/Department > College of Business
Faculty/School/Research Centre/Department > Centre of Policy Studies (CoPS)
Related URLs:
Depositing User: Ms Julie Gardner
Date Deposited: 08 Apr 2014 06:13
Last Modified: 30 Sep 2015 04:51
URI: http://vuir.vu.edu.au/id/eprint/24630
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