Borrowing and business in Australia

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Monograph

Identifikator:: 183051623X

URN:: urn:nbn:de:zbw-retromon-222122

Document type:: Monograph

Author:: Wood, Gordon L. http://d-nb.info/gnd/1239193688

Title:: Borrowing and business in Australia

Place of publication:: London

Publisher:: Oxford university press, H. Milford

Year of publication:: 1930

Scope:: xv, 267 Seiten; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

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Title:: Part III. The boom of 1890 and its economic consequences

Collection:: Economics Books

OVERSEAS TRADE AFTER 1890 97 in bank deposits and reserves, and this has already been noticed for Australia. Consequent upon this there will follow a rise in prices which will shift some part of the demand for home-trade goods to foreign-trade goods, since the changing price-level will first make home-trade goods dearer. A certain amount of substitution will also take place, and will tend to 120 | 710 SMPORTS “00 90 EXPORTS 0 J0 158 1890 1892 1804 “1896 Fie. VI. PRICE-LEVELS OF IMPORTS AND EXPORTS (After Coghlan.) reinforce this effect. Increased purchasing power in Australia will result in intensifying the demand for goods which enter into both home and foreign trade; and on this account also imports will increase and exports diminish. The rising cost of domestic production would tend to lessen the comparative advantage possessed by Australia for the production of com- modities for overseas trade, since labour would tend to be less effective by being diverted to the constructional works for which the capital was borrowed. Some commodities will even dis- appear from the export trade altogether, and may even tend to be imported. 3710

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