The economic impact of the mining boom on Indigenous and non-Indigenous Australians

This paper examines changes in Indigenous employment, income and housing costs to identify any localised ‘resource curse’ for Indigenous communities and the Australian population at large. Abstract Until the global financial crisis reduced Australian economic growth in late 2008, Indigenous employment had been increasing in both absolute and relative terms for over a decade. The effect of the international economic contraction has been mitigated by Australia’s booming mining sector, largely due to China’s growing demand for resources. Given that a substantial number of mining operations are on or near Indigenous land, the increase in mining investment may have disproportionately affected Indigenous communities. There are concerns that, in remote mining areas, the increases in housing costs generated by the mining boom mean that anyone who does not work in the mining industry, particularly those who rely on government benefits, will find it harder to afford housing. Localised inflationary tendencies can also affect people employed outside the mining sector, but one would expect that scarcity in the labour market would drive up wages in both mining and non‑mining jobs. This paper examines changes in Indigenous employment, income and housing costs to identify any localised ‘resource curse’ for Indigenous communities and the Australian population at large. The paper draws on data from recent censuses, the geographic location of mines and mining investment to identify some potentially important effects of the mining boom on Indigenous communities. The main finding is that the mining boom has improved employment and income outcomes, but increased average housing costs. While the average increase in income has generally offset the increase in costs, there is some evidence that housing stress for low-income households has increased as a result of the mining boom

Corporate financialization in South Africa : From investment strike to housing bubble

This document is the Accepted Manuscript version. The final, definitive version of this paper has been published in Competition & Change, June 2018, published by SAGE Publishing.This article reveals the processes of financialization in the South African economy by tracing the sources and destinations of non-financial corporations’ liquidity. The paper argues that rather than the volume of non-financial corporations’ financial investment, the composition of financial assets is crucial to assess corporate financialization in the country. Non-financial businesses in South Africa fundamentally transformed their investment behaviour during the 1990s, shifting from more productive uses such as trade credit towards highly liquid and potentially innovative (and therefore risky) financial investment. Following the direction of financial flows the article shows that companies’ financial operations – fuelled by foreign capital inflows – are linked to the price inflation in South African property markets.Peer reviewe

Mortgage valuation report forms and the identification of subsidence

This paper examines whether surveyors engaged in mortgage valuation inspections using questionnaire style report forms supplied by lending institutions, are subject to an increased risk of liability in respect of identifying the present and future threat of subsidence to domestic properties. Analysis of the mortgage valuation report forms used by 34 different lending institutions, showed that 20% failed to ask any subsidence related questions, only 6% asked about the geology or soil type of the site, and only 9% asked about the location of trees relative to the building. Evaluation of the report forms showed that the type, quality and quantity of questioning were such that 24 out of the 34 were inadequate and unreliable, leaving the surveyor at an increased risk of litigation

Breaking the rules. Ir and Business

The emergence of advanced information retrieval technologies has caused a drastic change in business models, in the nature of information intermediaries and in its automated processing. The characteristics of these changes and their economic consequences are analyzed