CONCLUSION
Due to recent improvements in the mineral resources valuation model, the ABS is now able to develop natural resource inputs for inclusion in mining productivity statistics. Mining capital services growth is significantly reduced when mineral and energy resources is included, thus reducing the decline in measured MFP for the mining industry. However, the decline in mining MFP cannot solely be explained by including natural resources as a factor of production. Other factors such as capital lags associated with investment in new infrastructure may have also contributed to the decline.
The mining MFP estimates based on natural resource inputs will be experimental for a number of reasons. There is no clear international standard on how to include mineral and energy resources into productivity statistics, and few countries have attempted its inclusion. The approaches described in this paper are put forward as one possible solution. Productivity measures which do not measure mineral and energy resources will continue to be maintained in the core productivity tables, so that the influence of natural resource inputs can be separated.
For further information about productivity measures contact Derek Burnell on Canberra (02) 6252 6427. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.
Print Page
Print All