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The Economy in the Nineties: Through the Slump to Prosperity?

Published online by Cambridge University Press:  01 January 2023

J.W. Nevile  and
T.R. Stegman
J.W. Nevile
Affiliation:
Centre for Applied Economic Research, University of New South Wales
T.R. Stegman
Affiliation:
Centre for Applied Economic Research, University of New South Wales
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Abstract

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There is general agreement that the economy is in slump. There is also general agreement that the slump is the product of macroeconomic policy. In an attempt to redress the adverse balance of payments public policy has dampened economic activity through tight fiscal and monetary policy. The need to contain the growth in imports will have a vital bearing on the economic growth facilitated by public policy in the short and medium term. The paper details the factors determining the appropriate levels of growth in the short term which will enable a “soft” landing for the economy. However, the paper doubts that this “soft” landing will be achieved. The paper also examines the longer term prospects. It argues that, given the appropriate policy framework, a period of prosperity is achievable.

Type
Article
Information
The Economic and Labour Relations Review , Volume 1 , Issue 1 , June 1990 , pp. 1 - 14
Copyright
Copyright © The Author(s) 1990

Footnotes

*

Of the two substantive sections, Trevor Stegman wrote Section 2 and John Nevile Section 3.

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