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Governments, Globalization, and International Business$
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John H. Dunning

Print publication date: 1999

Print ISBN-13: 9780198296058

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198296053.001.0001

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(p.203) 7 Australia
Governments, Globalization, and International Business

Hal Hill (Contributor Webpage)

Bruce McKern

Oxford University Press

This case study on the impact of globalization on Australia is organized into six main sections. Sect.1 and Sect. 2, provide a general overview of Australia's international integration from a comparative perspective. Sects. 3–5 place Australia's growing internationalization in context. The policy reforms of the 1980s are described and assessed in Sect 3, and related to a range of macroeconomic performance indicators in Sect 4; these two sections provide essential background information since the reforms were crucial in shifting Australia towards a much more international orientation, and the macroeconomic setting (in particular the country's low saving rate) is important, for it has the potential to nullify many of the significant reform achievements. Sect 5 develops the internationalization theme further by examining trends in equity capital flows and technology effort, and Sect 6 provides another building block in the argument by analysing the development of ever stronger ties with East Asia. Sect 7 takes a more microeconomic perspective by examining the impact of the major changes discussed earlier on business enterprises.

Keywords:   Australia, business, case studies, East Asia, economic policy, equity capital flows, globalization, internationalization, macroeconomic performance, macroeconomics, microeconomics, policy reforms, technology change

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