We gauge how productivity and factor endowments shaped the rise and fall of Australia’s exceptional incomes. New measures of TFP, which include natural resource inputs, are utilized in an accounting of income growth. Further, the drivers of TFP growth are explored. Pastoralism and mining had negative TFP externalities, and we incorporate these finding into a unified accounting of incomes which distinguishes the roles of endowments and productivity. Nevertheless, TFP growth played an important role in promoting exceptional incomes between 1842-1890. Our findings favour a more balanced interpretation of Australian growth that has roles for natural resources, labour participation and productivity.

中文翻译：

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自 1800 年以来澳大利亚特殊收入的兴衰

我们衡量生产力和要素禀赋如何影响澳大利亚特殊收入的上升和下降。包括自然资源投入在内的 TFP 新措施被用于收入增长的核算。此外，还探讨了 TFP 增长的驱动因素。畜牧业和采矿业具有负的 TFP 外部性，我们将这些发现纳入统一的收入核算，区分禀赋和生产力的作用。尽管如此，TFP 增长在 1842 年至 1890 年间在促进特殊收入方面发挥了重要作用。我们的研究结果倾向于对澳大利亚的增长进行更平衡的解释，这对自然资源、劳动力参与和生产力都有影响。