Borrowing and business in Australia

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

ic 2 ; whl ne c = QO RA oo NY & x ot > Nn ho oD il ye le e)) = ™ - ori - Cy A — oo o wn oo CQ) Q NY © al 0 FJ 0 oir > oy CONTINUOUS BORROWING 239 ctivity of the overseas debt. The increase in the per: te of the disposable income necessary to pay the annual sas interest charge is the most serious aspect of the situa- While the analysis does not indicate that the proportion + disposable income which is used to hire capital is un- high, since production itself rose during the period by 32 :nt., it does indicate the real crux of the external debt ion. jecond point established by Dyason has reference to the sve proportion of external debt to production in the pre- nd post-war periods. It must again be emphasized that Tare LVI External Interest and Productivity per Head ] Annual average production of export sommodities per head of pre-war nrice-level. External interest charge per head at pre-war price-level. Average annual production of export com- modities. Mean population. { Millions.) Interest on the eacternal debt. a. to to 7 - 146 | 4657 5.090 30-3 7.119 1:6 82:3 18-455 | 2.77 Increase per cent. 6-6 68-0 alue of total production does not seem 80 important for this ose as the value of the production of export commodities. ould appear to be necessary to compare pre-war and post- nterest and disposable income at a common price-level. The ire then assumes a somewhat different complexion, for it ident that, while the annual average production per head tport commodities increased by. 6-6 per cent., the external est charge had increased by 68 per cent., or more than ten 3 as fast. -y a further comparison of annual indebtedness due to owing with the estimated annual savings, Dyason arrives at final decision that Australia is living well within her income. iittedly this may be true, although the estimate of national 7; ngs made by Sutcliffe upon which he bases his judgement + pins the most conjectural and the least satisfactory aspect 4 Q cn =. = x on = 0) wo XT pot

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