TrustNet News / Market / Growth In China Boosts The Australian Economy Simpson says the other main area doing well in Australia is banking. Resource demand from China boosted economy. Australia seen as good for investing in http://www.trustnet.com/general/news/display-story.asp?id=69879&db=market
NEWS ROOM NEWS ROOM GOVERNMENT REPORT CARD AUSTRALIA IN FOCUS YOUR only for the australian economy, but also for the banking and financial industry . One of the bull points of the australian economy is that we have a http://www.pm.gov.au/news/speeches/1999/address1705.htm
Extractions: HILTON HOTEL, SYDNEY Well, thank you very much, Maxine. To Graham Wallace, Chris Anderson, Peter Charlton, ladies and gentlemen. And so it came to be that as a result of that set of circumstances and that chain of events Australia developed through the 1980s and into the 1990s one of the most modern, progressive and outward looking banking and financial systems in the world. The Australian approach was seen as something of a model and in a number of areas we trail blazed for other countries which in other areas it had been our custom to follow. And in coming to office in 1996, my Treasurer, Peter Costello, established the Wallis Inquiry which conducted something of a stocktake of what had happened post-Campbell and recommended a number of other very significant changes. And it is a source of strength, it is a source of reassurance and what a few years ago was perhaps seen as stodgy is now seen as one of the reasons that makes Australia an extremely attractive place in which to invest.
Extractions: Key Resources Journals Reference Resources Internet Links Students mainly use databases to find references to journal articles. Databases are searchable using keywords or subject headings, with Boolean operators (AND or OR) e.g. "monetary policy and inflation". Databases can be subject specific e.g. Econlit, or multidisciplinary e.g. PQD 5000, Business Source Premier. When the text of an article is not offered from the database, students may find it in 3 ways. By using the SFX button beside the reference, by copying and pasting the title of the journal into either the Sirius E-journals or the LRD catalogue. For a brief online tutorial, click this link, How to ... Using the Databases ECONLIT (CSA) 1969+ Scholarly content. Index with SFX links to electronic articles and LRD (catalogue) search. Tip! A search using the thesaurus e.g. de=((banking)) retrieves 18590 records, or de=((finance)) retrieves 29140 records. Emerald full text Scholarly content .
Session5a examines the consequences of branch banking for the australian economy. In 1893 Australia suffered the worst panic ever in a branch banking country. http://www.eh.net/EHA/Meetings/Archives/session5a.html
Extractions: Andrew Seltzer (Royal Holloway) Abstract: This paper examines the consequences of branch banking for the Australian economy. There is little evidence to show that branching increased the stability of Australian banking. In 1893 Australia suffered the worst panic ever in a branch banking country. During the crisis, more extensively branched banks were more likely to suspend payments. However, it is shown that branching increased the provision of banking services to rural areas. This occurred because branch banks could reallocate capital from urban to rural regions at low cost, whereas unit banks typically conducted all of their business locally. Using data from the Union bank of Australia, I show that advances were typically considerably greater than deposits at rural branches tended to issue, whereas the reverse was true for urban branches. Finally, I show that virtually all rural branches would not have been viable had they been constrained by the deposits they could raise locally.
Economic Reform Amongst the reforms Curtin advocated were national control of banking and hard to convince his colleagues that for the australian economy to prosper, http://john.curtin.edu.au/aspirations/economy.html
Extractions: Amongst the reforms Curtin advocated were national control of banking and credit, national control of interest rates and national direction of investment towards the war effort and postwar reconstruction. Within months of becoming prime minister, Curtin enacted legislation for economic reform that would enable him to put into place his social welfare measures. Uniform income tax John Curtin was deeply interested in economic issues and had gained a good grasp of figures at an early age from working as an estimates clerk at Titan Manufacturing. On 19 February 1942 Curtin announced a National Economic Plan which included pegging wages and profits, closing down non-essential industries and taking control of manpower. Arguing that only through unified national control could enough money be raised to prosecute the war effectively and as the states refused to hand over the power temporarily, the Commonwealth took over the entire responsibility for income tax in May 1942, promising to provide compensatory funding to the states if they refrained from imposing their own income tax. 'Excelsior!' cartoon
Australia Banking News - Media Monitoring Service By EIN News Australia banking News. Service for global professionals. australian DollarFalls on View Reports to Show Weaker economy 9 Aug 2005 0040 GMT . http://www.einnews.com/australia/newsfeed-AustraliaBanking
Extractions: Select country EIN HOMEPAGE Afghanistan Alabama Alaska Albania Algeria Angola Argentina Arizona Arkansas Armenia Australia Austria Azerbaijan Bahrain Balkans Bangladesh Barbados Belarus Belgium Belize Bermuda Bolivia Bosnia Botswana Brazil Bulgaria Burkina Faso Burundi California Cambodia Cameroon Canada Central Europe Chile China Colombia Colorado Congos Connecticut Costa Rica Cote d Ivoire Croatia Cuba Cyprus Czech Republic Delaware Denmark Dominican Republic East Timor Ecuador Egypt Eritrea Estonia Ethiopia Falkland Islands Finland Florida France Gambia Georgia Georgia Germany Ghana Greece Guatemala Guinea Bissau Guyana Haiti Hawaii Honduras Hong Kong Hungary Iceland Idaho Illinois India Indiana Indonesia Iowa Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kansas Kazakhstan Kentucky Kenya Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Lithuania Louisiana Luxembourg Macedonia Madagascar Maine Malawi Malaysia/Brunei Mali
IP: More On Bank Chief Blasts Microsoft And IT Industry-" He Said The U Bank closures are implicated in the demise of the rural economy, whole communities 1 The community s response to australian banking closures Pub date http://www.interesting-people.org/archives/interesting-people/200203/msg00034.ht
Extractions: Date Prev Thread Prev Thread Next Date Next ... Elist Home Subject IP: more on Bank chief blasts Microsoft and IT industry-" He said the United States' IT industry had "singlehandedly wrecked theworld economy over the last couple of years". " http://www.smh.com.au/news/0202/28/biztech/biztech100.html http://www.interesting-people.org/archives/interesting-people/ http://www.interesting-people.org/archives/interesting-people/ Date Prev ... Elist Home Search: this month this year this elist Match: all any boolean Sort by: score date reverse score reverse date
Upside Down Under Australia is perhaps the healthiest developed economy around. There areseveral factors that continue to make large australian bank stocks attractive http://registeredrep.com/mag/finance_upside_down/
Extractions: With deeply uncertain economic realities at home, investors are searching for an alternative market, preferably in an industrialized country with low correlation to the U.S. markets. Australia might just do the trick. For most American investors, Australia conjures up images of the outback or scenes from the movie Crocodile Dundee . But, as The Economist th According to the Economist Intelligence Unit, five-year annualized GDP growth through 2002 has been a remarkable 3.81 percent, versus less than 3 percent for the U.S. And EIU projects Australian expansion of 3 percent in 2003. In fact, Australia outshines the U.S. in many major macroeconomic metrics, including gross fixed investment, industrial production, savings rate, budget balances and debt as a percent of GDP. In addition, the Australian dollar, which had been on a decade-long decline, has begun to rebound. With more than a third of the economy geared to commodities, the currency depreciated on the back of declining metals and agricultural prices and a sharp reduction in interest rates.
Australian Bankers Association - Fact Sheets Profitable banks contribute to the australian economy and are essential for thesecurity and stability of the australian financial system http://www.bankers.asn.au/Default.aspx?ArticleID=593
Asiaweek.com Where can the investor who favors banking stocks go? Try Australia, where loan The economy is healthy, but Borzi expects a slowdown this year and next. http://www.asiaweek.com/asiaweek/98/0410/biz2.html
Extractions: Australian banks may still escape Asia's crisis By Assif Shameen / Sydney B ANKS FROM SEOUL TO Surabaya are being squeezed by massive non-performing loans. Japanese lenders are still struggling with a clean-up of $616 billion in bad debts. European institutions continue to set aside billions of dollars in loan-loss reserves because of their extensive exposure to Asia. U.S. stock markets are at all-time highs, making American banks look very expensive. Where can the investor who favors banking stocks go? Try Australia, where loan growth is expected to be close to 10% this year as the economy expands 3%. "Australian banks are cheap because they are selling at 12 to 13 times this year's forecast earnings, compared with most industrial stocks at 18 times or American banks at 17 times," says Mike Macrow of Merrill Lynch in Melbourne. What about the Asian crisis? "The market and the media have over-reacted," says Craig Turton of Salomon Smith Barney in Sydney. Of the Big Four National Australia Bank, ANZ Banking Group, Commonwealth Bank of Australia and Westpac Banking Corp. only ANZ has a big presence in Asia through its Grindlays subsidiary, which has a large South Asian operation. The banking system's total exposure to the region is some $29.3 billion only 11% of total loans. ANZ accounts for $9.3 billion. Australian banks are seen as insular and primarily domestic plays. Many analysts believe they are in fairly good shape, with profit streams from local sources outstripping any outlays for write-offs in Asia.
Asiaweek.com Much could be redeployed in the economy if banks are forced through Most australian banks reduced their regional exposure as economies crashed, http://www.asiaweek.com/asiaweek/98/0911/cs4.html
Australian Review Of Public Affairs The suprarationality of the banking system has ensured that capital finds its There are two other dimensions to Loves claim of an australian economic http://www.econ.usyd.edu.au/drawingboard/digest/0202/jones.html
Extractions: Too much talk about tax reform in Australia focuses on just one small headline-grabbing aspect: the cutting of personal tax rates. Meanwhile, on-going and increasingly abusive tax avoidance and evasion is undermining of the integrity of the tax system. Actually Existing Capitalism Ian Buchanan (5 Sep 2005) A certain European entrepreneur working in the IT sector made his fortune selling an instant transcription service over the internet. Claiming he was using state of the art voice recognition software, he advertised the real-time transcription of verbal texts. In an Indian sweatshop, people typed away ... what was that about the New Economy?
Extractions: Download Info To download: If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help file . Note that these files are not on the IDEAS site. Please be patient as the files may be large. File URL: http://www.rba.gov.au/rdp/RDP9302.pdf
Australia Economy Australia economy, Australia Business World News From WN Network. World Business.Full Story Profit rises at banking giant RBS http://www.australiaeconomy.com/
The Banker: Risk Aversion Continues To Rule In Australia A strong economy and a rosy outlook are seen as significant factors behind Mr Although the large australian banks are highly profitable by global http://www.thebanker.com/news/fullstory.php/aid/2331/Risk_aversion_continues_to_
Extractions: Editorial Advertising Syndication Subscriptions ... Technology Directory Departments Supplements Regions Awards Archives Risk aversion continues to rule in Australia Published: 04 November, 2004 Page 72 Prime Minister John Howards re-election is a reflection of the conservatism that pervades the country and its banking sector, says Stephen Timewell in Melbourne. Prime Minister John Howards record fourth election victory demonstrates that the worlds most successful sporting nation (in Olympic medals per capita) prefers to play it very safe when it comes to politics. Against an inexperienced new Labour party leader, Mark Latham, who ran a spirited campaign, the 65-year-old veteran Liberal-National party coalition leader maintained his tough stance on Iraq and relied on his sound management of the economy to produce a resounding election win. Australians were not prepared to take the risk with an untested newcomer and Mr Howard was able to secure a 2% electoral swing, increase his majority in the House and unexpectedly gain control in the Senate. Solid growth A strong economy and a rosy outlook are seen as significant factors behind Mr Howards win. Australians are the richest they have ever been, with a net wealth of A$250,000 ($183,550) for every man, woman and child, thanks to the booming stock-market and soaring house prices. The latest estimates from the Treasury show wealth rose by 18% in the June quarter to reach A$5000bn for the first time. While the Treasurer, Peter Costello, tried to play down some of the economic optimism in post-
Economics Internet Resources: Australian Economy australian economy. Monetary policy Reserve Bank of Australia; Budget statementsDepartment of the Treasury; National Accounts australian Bureau of http://www.aph.gov.au/library/INTGUIDE/ECON/economy.htm
Extractions: Send us an email on your concerns about the MAI. Pauline, the Hanson Phenomenon ... Australia needs an Industry Policy Email: Global Web Builders The FSIA In 1985 Treasurer Paul Keating allowed foreign banks into Australia. He was subsequently named the "world's best treasurer". A title which had nothing to do with the interests of Australians but everything to do with the foreign investors and multinationals who wanted to "acquire" Australia. The FSIA represents the formal submission of the Australian banking industry to the World Trade Organisation. A treaty which was signed by the ALP Government in 1995 which was never debated in Parliament - despite the impact that it would have on our nation. Quotable FSIA quotes: "The financial services agreement will directly benefit Australian banks, insurance companies and securities traders."
ANZ Country Briefs ANZ is a major australian Financial Institution offering home loans, car loans,business loans, Internet banking, insurance and deposit products. http://www.anz.com/business/info_centre/economic_commentary/MC_country_briefs.as
Extractions: ANZ Country Briefs ANZ Country Briefs assess economic conditions and prospects in countries of importance to ANZ and Australia. They are produced on an ad hoc basis. ANZ Economic Monthly August 2005. Asia's Giants - August 2005. Country Update - Fiji August 2005. Asia Network Monthly Meeting June 2005. ... ANZ Country Brief - PNG January 2002