Skip to Content

Structural reform Australian-style: lessons for others?

Chairman's speech

In conjunction with recent meetings at the IMF, World Bank and OECD, Commission Chairman Gary Banks gave seminar presentations on the topic Structural reform Australian-style: lessons for others?

Contents

Introduction

Paradise lost – and (partly) regained
A head start forfeited
Wide-ranging 'microeconomic reform'
A more productive economy

Some (unusual?) features of the reform program
'Opening the borders' became the first domino
We liberalised unilaterally
We hastened slowly
We acted on a broad front
We 'oiled the wheels' in sensitive sectors

Two institutional innovations in Australia’s reform story
The role of 'the Commission'
The National Competition Policy

Further reform challenges for Australia
Lessons for others?

References