Australia's trade policies

Australia's Trade Policies analyses the evolution and current content of these policies. A historical chapter explains why Australia adopted a policy of protecting manufacturing activities from import competition, and why this strategy was retained after other high-income countries reduced their trade barriers during the 1950s and 1960s. Australia began to change policy in 1973, but embarked on substantial trade liberalisation only in the 1980s. The book analyses the costs of protection and the political economy of policy reform. Individual chapters focus on primary industries, the manufacturing sector and trade in services. Going beyond the normal limits of trade theory. Chapters also deal with capital flows (and multinational enterprises) and the relationship between trade liberalisation and macroeconomic policy.