Is Australia Out of Luck?
Australia - which some call "the lucky country" - stands apart from other advanced economies, having sidestepped not only the recent global financial crisis but also the 2001 global recession and the Asian financial crisis in the late 1990s. However, as the Australian economy is increasingly driven by resource exports, it is becoming more vulnerable to cyclical fluctuations in global growth.
ECRI's latest in-depth study assesses the cyclical risks Australia is now facing, and provides important clues about whether Australia's luck has run out for the first time in two decades.