The Mining industry: from bust to boom

Ellis Connolly, David Orsmond

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contribution


The Australian mining industry experienced a remarkable revival over the 2000s. At the beginning of the decade, mining was dismissed as emblematic of Australia's ‘old economy’, with prices for key resource exports at their lowest levels in real terms for a century.[1] This seemed to corroborate the Prebisch-Singer hypothesis that commodity prices would continue to fall over time relative to other goods and services.[2] However, the rapid urbanisation and industrialisation of emerging economies in Asia dramatically transformed global commodity markets over the 2000s. This paper highlights the turnaround in the fortunes of the mining industry, and discusses the effects on the economy more generally.
Original languageEnglish
Title of host publicationThe Australian economy in the 2000s
Subtitle of host publicationproceedings of a conference held in Sydney on 15-16 August 2011
EditorsHugo Gerard, Jonathan Kearns
Place of PublicationSydney
PublisherReserve Bank of Australia
Number of pages46
ISBN (Electronic)9780987148865
ISBN (Print)9780987148858
Publication statusPublished - 14 Dec 2011
Externally publishedYes
EventThe Australian economy in the 2000s: the Reserve Bank of Australia's conference 2011 - Sydney
Duration: 15 Aug 201116 Aug 2011

Publication series

NameProceedings of a conference (Reserve Bank of Australia)
PublisherReserve Bank of Australia


ConferenceThe Australian economy in the 2000s


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