- Published by:
- Department of Treasury and Finance
- Date:
- 1 Dec 2017
Secretary’s foreword
The Department of Treasury and Finance (DTF) provides robust and impartial advice to the Victorian Government about the State’s economic, commercial, financial, budget and resource management. Our analysis supports decisions on the most effective ways government funding can be used to make Victoria a better place to live, now and into the future.
Victoria’s economy is broadly equivalent to the size of a small OECD (Organisation for Economic Cooperation and Development) nation. Indeed, measured in terms of real gross domestic product (GDP) in 2016, it would be ranked 26th among the 35 OECD member nations, about the size of Hungary and larger than the economies of Iceland, Finland, Luxembourg and New Zealand.1 There are, however, relatively few economic research publications that focus on economic trends in Victoria. This research volume, Victoria’s Economic Bulletin, is designed to provide one such contribution.
DTF has been investing in the Department’s analytical and research capability. This volume provides a snapshot of some of the staff research being undertaken. By publishing it we hope to contribute to the broader public policy debate on important economic questions. We also hope to highlight important trends driving change in the Victorian economy.
The articles in this volume are summaries of research in progress. They are produced by authors to increase awareness about important economic and social trends.2 In this edition, two articles focus on trends in household income. The first discusses trends in income inequality and highlights how Victoria compares with the rest of Australia, and with other OECD economies. The second article discusses wage dispersion and factors driving differences in individuals’ wages in the cross-section and over time. The third article discusses the value of economic access, one ingredient for ensuring Victoria’s continued prosperity. The fourth discusses trends in GST revenue.
The Department plans to publish this volume twice a year. I hope the articles provide some insight into the research being undertaken and, perhaps more importantly, start a wider conversation on research into the Victorian economy.
David Martine
Secretary
Footnotes
[1] This is measured in real United States (US) dollars and in constant purchasing-power-parity (PPP) terms.
[2] They reflect the views of the authors and not necessarily those of the Department.