Farmers, government, and the environment: the settlement of Australia's 'wet frontier', 1870–1920

Historical studies of Australian agriculture have tended to concentrate on the difficulties of farming in a dry environment. The extension of farming into high-rainfall, densely forested regions (what I term the wet frontierc ) has been almost completely overlooked. This article is an attempt to redress this imbalance. It concentrates on the settlement of the wet frontier between 1870 and 1920. Up to about 1890 settlement was slow and often unsuccessful because of the high cost of forest clearance, environmental problems, deficiencies in transport, and government hostility and indifference. However, after 1890 increased demand for butter and improvement in dairy production technology transformed the wet frontier into a highly productive agricultural region.     

A fine balancing act: freedom and accountability

The recent Funding Options Review identified a minimum additional funding requirement of 900 million per annum for higher education by 2004/05 and also considered more specific needs, such as correcting for past under-investment in infrastructure. At the same time, it contributed to the debate about the‘key choice’of funding by government or by the‘beneficiaries of higher education.’Government will need to match its aspirations for higher education with adequate funding and the universities will have to be‘even more sensitive and responsive to the needs of students.’     

Korean Unification: Economic Adjustments under German Assumptions

This paper explores the impact of unification on North and South Korea under the hypothetical scenario that German‐type reunification occurs in the Korean peninsula. Simulation results using a global dynamic general equilibrium model show that with comprehensive market‐oriented reform and opening, the North Korean economy could capitalize on its growth potentials. Unification can reduce the growth rate in South Korea for a certain period following the unification shock due to the transfer of resources out of the South into the North and an increase in risk on the Korea peninsula. Due to the relative sizes in population and per capita gross domestic product of the two Koreas, unification can be more disruptive on North and South Korea, compared to the experience of Germany. The critical factors determining the economic effects of unification are the nature of wage‐adjustment, the size of resource transfers from the South to North, and exchange rate policy.     

Insights into accounting choice from the adoption timing of International Financial Reporting Standards

This paper collects survey evidence on the costs and benefits of adopting International Financial Reporting Standards (IFRS). It also examines the motivations for the timing of IFRS adoption. Significant differences exist between early and late adopters for three of nine benefits and for one of six cost measures. No significant differences exist in terms of firm size or the impact of IFRS on contracts. Early adopters perceive themselves as market leaders. They are more certain about the manageability of implementing IFRS and are more specific with regard to the impact of IFRS adoption. Late adoption decisions are motivated by adverse consequences and uncertainty.