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Public Organization Review

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01-03-2011

Global Financial Crisis: The Australian Experience in International Perspective

Author: Roger Wettenhall

Published in: Public Organization Review | Issue 1/2011

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Abstract

This article addresses the impact of the global financial crisis in Australia. Obviously the impact has been varied and complicated, so that the picture presented can be no more than a sketch seeking to identify some of the main influences and governmental responses to them. In the event, the impact was relatively light in Australia, with credit accruing to a fairly effective regulatory system, though serious implementation problems developed. The article also explores the issue of the economic stimulus strategy more generally, and connections between the crisis experience and related movement in the arena of government-private sector relations.

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In late 2008 and 2009 the value of the Australian dollar stood at around US$0.80c. It had risen by late Seotember 2010 to around US$0.95.

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This is not to say that it was the only problem Prime Minister Rudd had faced, but it was certainly a very significant one.

It also prints currency notes for Australia and about a score of other countries through satellite companies.

The term “sovereign wealth fund” is said to have been first used in an article in a 2005 issue of Central Banking Journal (Rozanov 2005).

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Title: Global Financial Crisis: The Australian Experience in International Perspective
Author: Roger Wettenhall
Publication date: 01-03-2011
Publisher: Springer US
Published in: Public Organization Review / Issue 1/2011
Print ISSN: 1566-7170
Electronic ISSN: 1573-7098
DOI: https://doi.org/10.1007/s11115-010-0149-9

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Other articles of this Issue 1/2011

Berman, M. Jae Moon, and Heungsuk Choi, eds. (2010). Public Administration in East Asia: Mainland China, Japan, South Korea, and Taiwan.

Symposium Introduction: The Global Financial Crisis, Governance and Institutional Dynamics

Global Financial Crisis and International Institutions: Challenges, Opportunities and Change

Global Financial Crisis, Public Administration and Governance: Do New Problems Require New Solutions?

Mark Bevir, Key Concepts in Governance

Nonsense on Stilts: United Kingdom Perspectives on the Global Financial Crisis and Governance