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Stevens: The Australian Dollar: Thirty Years of Floating
In just a few weeks' time we will pass the anniversary of one of most profound economic policy decisions in Australia's modern history. I refer of course to the decision taken by the Hawke Government in December 1983 to float the Australian dollar and to abolish most restrictions on the international movement of capital. The decision had been a long time coming. The possibility of a float had been contemplated for years. But the right combination of intellectual climate and circumstances did not arrive until 1983. When it was taken, the decision was a key part of a sequence of very important decisions that opened up ... (full story)
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