The Commonwealth Treasury


TREASURY ECONOMIC ROUNDUP: SUMMER 1999

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No. 99/01

TREASURY ECONOMIC ROUNDUP: SUMMER 1999

The Summer 1999 edition of the Treasury Economic Roundup was released today and includes the articles listed below. The Roundup is available from Government Infoshops or through Treasury’s internet home page: http://www.treasury.gov.au. Subscriptions are also available by contacting the Roundup Publications Officer, National Mailing and Marketing Pty. Ltd., on 02 6299 6044.

Economic Overview

The Overview discusses recent developments in the domestic and international economy. World economic growth is expected to remain well below its long-term trend in 1999, with an improvement in East Asia largely offset by slowing growth in Europe and North America. In Australia, growth is expected to moderate somewhat from the very strong rate recorded over the year to the September quarter. Available indicators of economic activity suggest that solid domestic demand growth continued into the December quarter. Business and dwelling investment are expected to remain at high levels in 1998-99.

Recent Movements in the Labour Force Participation Rate

This article examines recent movements in the labour force participation rate and discusses some of the influences that affect the participation rate and which are expected to continue to have an influence on the participation rate in the longer run.

Report of the Task Force on International Financial Reform

In October 1998 the Prime Minister established a Task Force, comprising senior figures from the private and public sectors and chaired by the Treasurer, to assess how Australia could contribute to strengthening the international financial system and achieving greater stability in global capital markets. This article reproduces the key principles and elements of the Report presented to the Prime Minister on 21 December 1998.

Price Regulation of Utilities

This article examines the current economic thinking on prices regulation of utilities. In particular, the article reviews the major options available for regulating utilities in order to gain a better understanding of regulatory best practice in this area.

Australian Net Private Wealth

This article updates previous estimates, and provides preliminary estimates for net private sector wealth as at June 1998. The market value of Australian net private sector wealth grew by 7.2 per cent in the year to June 1998. In real terms (i.e. after allowing for inflation), wealth grew by 5.1 per cent, while per capita real wealth grew by 4.0 per cent.

CANBERRA, ACT
5 February 1999

Contact officer:
Richard Murray,
Domestic Economy Division
Telephone: (02) 6263 3748