Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)

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An Empirical Study of Factors Influencing Australia's GDP

Authors
Hongbo Guo1, *, Zewei Zhang2
1Monash University, Business School, Melbourne, Australia
2Shanxi University of Finance and Economics, Faculty of International Trade, Shanxi, China
*Corresponding author. Email: b20160601213@stu.ccsu.edu.cn
Corresponding Author
Hongbo Guo
Available Online 29 December 2022.
DOI
10.2991/978-94-6463-042-8_83How to use a DOI?
Keywords
GDP; Multiple Regression; Australia
Abstract

GDP is currently the most comprehensive and effective indicator of the national economic situation in the world. Macroeconomic indicators are used to analyze the development trend and operation of the national economy. When analyzing economic growth and macroeconomic operation, GDP plays a great role. In some situations, it is used to identify factors of economic growth and their impacts. This paper takes data from 1981 to 2019 and investigates the impact of five variables (Gross Saving; Consumer Price Index; Unemployment; Population and Real Interest Rate) on Australia's GDP growth using multiple linear regression methods. From the paper, Gross Saving and Interest Rate have produced positive and statistically significant results in Australia's GDP growth. However, the Consumer Price Index, Unemployment, and Population are quite the opposite (refer to formula 2). According to the results of the study, the government should do its best to maintain the stability of GS, CPI, UNEMP, POP and IR to maintain sustained and healthy economic development.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
Series
Advances in Computer Science Research
Publication Date
29 December 2022
ISBN
10.2991/978-94-6463-042-8_83
ISSN
2352-538X
DOI
10.2991/978-94-6463-042-8_83How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Hongbo Guo
AU  - Zewei Zhang
PY  - 2022
DA  - 2022/12/29
TI  - An Empirical Study of Factors Influencing Australia's GDP
BT  - Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
PB  - Atlantis Press
SP  - 581
EP  - 586
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-042-8_83
DO  - 10.2991/978-94-6463-042-8_83
ID  - Guo2022
ER  -