The Cambridge Handbook of the Social Sciences in Australia

By Ian McAllister; Steve Dowrick et al. | Go to book overview

with the same term to maturity. Macfarlane (1988) concludes that a pre-currency-float link between domestic and foreign bond rates weakened in the post-float era. This study is based on data truncating in June 1988. However, the study by Felmingham, Zhang and Healy (2000) suggests that Australian rates are cointegrated with rates in six of its major trading-partner countries in the 1990s, but not in the 1980s.


The future of banking

Further revisions of Australia's money and banking arrangements can be anticipated. Hogan's (1999) menu of potential banking changes include the effects of asymmetric information and technical change. The presence of scale and scope economies in Australian banking suggests that further amalgamations, particularly those involving the combination of international partners, will eventuate. E-banking will create the need for banks to revise credit-supervision procedures to counter the influences of asymmetric information and the related problems of adverse selection and moral hazard. Hogan views future banks as 'design and construct' centres retaining more profitable activities and outsourcing plain vanilla banking products to service providers. The outcome for payment and clearance activities given the banks' desire to capitalise on scale and scope cost-savings is uncertain. Central banks will have a heightened interest in payments systems security for precautionary reasons.

The future of the banking system is just one of several intriguing puzzles about the future of money and banking in Australia.


Notes
1
The Martin Review Committee included R.M. Beetham, D.J. Cleary and K.J. Hancock, and was chaired by V.E. Martin.

References

Alles, L. 1995. The Australian term structure as a predictor of real economic activity. Australian Economic Review 4:71–78.

Asano, H. 1999. Financial deregulation and the stability of money demand:The Australian case. Australian Economic Papers 38(4):407–21.

Blundell-Wignall, A., and S. Thorp. 1987. Money, Own Interest Rates and Deregulation. RBA Discussion Paper 8703. Canberra: Reserve Bank of Australia.

Brooks, R.B., and R.W. Faff. 1995. Financial market deregulation and bank risk: Testing for beta instability. Australian Economic Papers 34(65):180–99.

Brown, R., and K. Davis. 1997. The Wallis Report: Functionality and the nature of banking. Australian Economic Review 30(3):310–15.

Butlin, M.W., and C.J. Ryan. 1982. The Causal Relationship between Money Base and Money in Australia: 1960–79. RBA Discussion Paper 8203. Canberra: Reserve Bank of Australia.

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The Cambridge Handbook of the Social Sciences in Australia
Table of contents

Table of contents

  • Title Page *
  • Contents v
  • Figures and Tables vii
  • Contributors x
  • Preface and Acknowledgements xviii
  • Introduction 1
  • References 13
  • Part 1 - Economics 15
  • Chapter 1 - Privatisation 17
  • References 27
  • Chapter 2 - Competition Policy and Regulation 31
  • References 40
  • Chapter 3 - Economics and the Environment 45
  • References 57
  • Chapter 4 - Health Economics 60
  • References 70
  • Chapter 5 - Immigration 74
  • References 87
  • Chapter 6 - Labour Market and Industrial Relations 94
  • References 113
  • Chapter 7 - Income Distribution and Redistribution 118
  • References 134
  • Chapter 8 - Taxation 138
  • References 148
  • Chapter 9 - Innovation 153
  • References 165
  • Chapter 10 - International Trade and Industry Policies 168
  • References 180
  • Chapter 11 - The Macro Economy 186
  • Notes 199
  • References 200
  • Chapter 12 - Money and Banking 203
  • References 216
  • Part 2 - Political Science 221
  • Chapter 13 - Political Theory 223
  • References 231
  • Chapter 14 - Federalism and the Constitution 234
  • References 246
  • Chapter 15 - Legislative Institutions 249
  • References 260
  • Chapter 16 - Political Parties and Electoral Behaviour 266
  • References 283
  • Chapter 17 - Electoral Systems 287
  • References 302
  • Chapter 18 - Gender Politics 305
  • References 319
  • Chapter 19 - Interest Groups and Social Movements 323
  • References 339
  • Chapter 20 - Environmental Policy and Politics 345
  • References 355
  • Chapter 21 - International Relations 358
  • Notes 368
  • References 369
  • Chapter 22 - Political Economy 374
  • References 391
  • Chapter 23 - Public Policy and Public Administration 406
  • References 422
  • Part 3 - Sociology 431
  • Chapter 24 - Patterns of Social Inequality 433
  • References 457
  • Chapter 25 - Families and Households 462
  • References 477
  • Chapter 26 - Gender Perspectives 480
  • References 493
  • Chapter 27 - Work and Employment 499
  • Notes 511
  • References 512
  • Chapter 28 - Crime and Deviance 518
  • References 531
  • Chapter 29 - Health and Illness 536
  • References 552
  • Chapter 30 - Population 554
  • References 569
  • Chapter 31 - Race, Ethnicity and Immigration 573
  • Notes 585
  • References 586
  • Chapter 32 - Urban and Regional Sociology 590
  • Reference 598
  • Chapter 33 - Rural Sociology 604
  • Reference 619
  • Chapter 34 - Religion and Spirituality 626
  • Reference 632
  • Chapter 35 - Cultural Studies, Australian Studies and Cultural Sociology 638
  • References 651
  • Chapter 36 - Sociological Theory 654
  • References 664
  • Chapter 37 - Social Policy and Social Welfare 666
  • References 674
  • Author Index 678
  • Subject Index 696
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