Building prosperity: harnessing Australia’s comparative energy advantage
Ian HarperPartner, Deloitte Access Economics
The APPEA Journal 52(3) - https://doi.org/10.1071/AJ11141
Published: 30 June 2012
Abstract
Developing Australia’s world-class energy resources will underpin its future prosperity. In this keynote address, Ian Harper presents the findings of APPEA-commissioned research about the broad economic contribution of Australia’s upstream oil and gas industry.
He focuses on the various ways in which the energy industry has enhanced Australia’s macroeconomic performance, especially during the global financial crisis, and forged direct links with high-growth Asian economies.
Ian also addresses key policy issues raised by the rapid growth of the oil and gas industry, including how to manage the impact on the non-resource-related parts of the Australian economy to secure balanced development and a sustainable lift in Australia’s prosperity during the longer term. He comments on the wisdom of proposals to create a sovereign wealth fund and stress the need to secure productivity improvements across the economy, especially in those sectors called upon to release resources to the burgeoning energy industry.
Finally, Ian offers a perspective on how to address the gaps in skills and geographic location of Australia’s workforce opened up by the resources boom. A mix of strategies will be needed to manage political sensitivities around fly-in/fly-out and higher levels of skilled migration, as necessary as these options will be in contributing to a balanced solution.
Ian Harper is one of Australia’s best known economists. He has worked closely with governments, banks, corporates and leading professional services firms at the highest level. As a member of the celebrated Wallis Inquiry, he was at the forefront of financial market reform in Australia. In August 2008, Ian left academic life to become a Director of the former Access Economics, following a 25-year career, including 16 years in various roles at the Melbourne Business School. In recognition of his service to the University of Melbourne, Ian was elected Emeritus Professor on his departure. More recently, he joined Deloitte Access Economics as a partner when Deloitte acquired Access Economics in March 2011. From December 2005 to July 2009, Ian served as inaugural chairman of the Australian Fair Pay Commission, an independent statutory body whose role was to set and adjust minimum wages in Australia. In January 2011, he was appointed as one of three panelists to the Independent Review of State Finances by the Baillieu Government of Victoria. Ian Harper is sought after as a commentator and public speaker on economic and financial issues. He has been described as ‘one of those relatively rare academics who can communicate extremely well with both the business community and the academic community’. In 2000, Ian was elected to a Fellowship of the Academy of Social Sciences in Australia in recognition of his standing as an academic economist and more recently to a Fellowship of the Australian Institute of Company Directors. |
