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Article: Regional economic growth: an evaluation of the Northern Territory.
- Article from:
- Economic Papers - Economic Society of Australia
- Article date:
- September 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Economic Society of Australia. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Gross Product of the Northern Territory accounts for approximately 1.2% of Australian GDP. The economic growth record of NT in the past few years has been well below all Australian states and territories but the per capita income of NT remains higher than the national per capita income. Due to continued interstate migration, higher birth rate among the indigenous population and the inability of NT to attract international migrants, the Territory's population mix is slowly changing. This paper shows that the NT's economic growth rate is closely linked to the growth rate of labour force and private investment. Although the overall labour force participation-rate is ...