CHAPTER TWO Economics_Notes_Unknown

CHAPTER TWO Economics_Notes_Unknown - Protection In...

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Protection In Australia Australia has gone from one of the most protected countries in the world to an economy with very low levels of protection. The govt.’s main aims I reducing protection are: Force domestic markets to become IC by exposing them to competition from imported goods Encouraging resources to reallocate to more efficient industries to gain comparative advantage Allowing Australia to experience the benefits of globalisation Promote structural change in the economy, with the long-term aim of encouraging efficient firms to produce what the economy wants Government Initiatives To Reduce Tariffs First significant initiative in 1974 with 25% across the board tariff cut In 1988 a comprehensive program of tariff reductions as part of a microeconomic reform program was initiate, accelerated in 1991. Above is argues more time should be give so Howard Government decided for a slower tariff reduction schedule beyond 2000:
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This note was uploaded on 08/19/2009 for the course ECON 1001 taught by Professor - during the Three '07 term at University of Sydney.

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CHAPTER TWO Economics_Notes_Unknown - Protection In...

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