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Title: From agriculture to mining: The changing economic base of a rural economy and implications for development
Contributor(s): McFarlane, Jim A  (author); Blackwell, Boyd D  (author)orcid ; Mounter, Stuart W  (author)orcid ; Grant, Bligh J (author)
Publication Date: 2016
DOI: 10.1016/j.eap.2015.11.012
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Abstract: This paper uses economic-base theory and input-output modelling to examine the structure of a regional rural economy in New South Wales, Australia, drawing important policy implications for economic planners. The most salient trend has been a shift in the area's dependence from agriculture to mining over the recent decade. However, the level of diversity of the region's industrial composition has altered very little. Mining is also contributing to significant net leakage of employment income from the region. Mining should therefore not necessarily be considered as the key future opportunity for economic development. Instead, a number of industry sectors, particularly those that foster innovation and technology, can be harnessed to drive future regional growth. In addition, a tourism marketing strategy promoting the region's food, wine and other distinctive attributes should play an integral role in future development planning. These prescriptions are highly transferable to similar rural economies experiencing a shift to mining.
Publication Type: Journal Article
Source of Publication: Economic Analysis and Policy, v.49, p. 56-65
Publisher: Economic Society of Australia Inc
Place of Publication: Australia
ISSN: 0313-5926
Fields of Research (FoR) 2008: 140202 Economic Development and Growth
140218 Urban and Regional Economics
140205 Environment and Resource Economics
Fields of Research (FoR) 2020: 380118 Urban and regional economics
380105 Environment and resource economics
Socio-Economic Objective (SEO) 2008: 910204 Industry Costs and Structure
910205 Industry Policy
Socio-Economic Objective (SEO) 2020: 150504 Industry costs and structure
150505 Industry policy
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
Appears in Collections:Journal Article

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