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Where is the Growth Going to Come From?
Author(s) -
Ellis Luci
Publication year - 2018
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12203
Subject(s) - boom , investment (military) , population growth , productivity , population , business , market economy , economics , industrial organization , political science , engineering , economic growth , sociology , law , politics , demography , environmental engineering
As the mining investment boom turned down and became a drag on growth, the question has often been asked: “Where is the growth going to come from?” Commentators started speaking of a growth “handover”: if mining investment was not going to provide our growth, something else needed to. And for a while, particular non‐mining sectors did seem to pick up, to become in turn the new “engine of growth.” However, this article argues that the underlying drivers of growth over the longer term do not depend on external triggers. Instead, they can be found in the “three Ps” – population, participation and productivity.