Three issues of importance to decision-makers in regional Australia

Regional Australia is going through a period of significant change as it passes with the rest of Australia through a period of turmoil. Maintaining employment, continued economic growth and creating new opportunities in a changing economic environment are all challenges to be met. As we increase our efficiency at maximising capital productivity, one of the possible solutions is research to increase our social and human capital to extract the most we can from our finite economic resources. This paper examines the role and effect of monetary and fiscal management; consistent balance of payment deficits; and human and social capital in regional economic development. The focus of this paper is on what we can draw from the economics literature, which is applicable to Regional Australia and is likely to be most useful for decision making over the next five to ten years