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- PMV covers passenger cars, station wagons, panel vans and pick-ups, which are assembled or manufactured in Australia (Industry Science Resources, 1996, p.101). In 1990s, PMVs represented about 77 percent of total vehicles registered. The individual series will be shown again in other graphs below. A `structural break is defined here for the purpose of this paper as a break in the slope of the trend of the series that can be explained by appropriate variables as will shown in subsequent sections. By fulfilling the minimum level of local content requirement producers have the right to import the allowable level of imported components duty free. In 1965, local content requirement were established at the 95% level. This was reduced to 85% level during 196885. The local content requirement was abolished in 1989. Garnaut (1997) argued that further liberalisation was urgent and important for the automobile industry.
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- Previous data were obtained from the ABS catalogue number 5416. For the series of labour productivity and exports the `breaking year was chosen to be 1992 for reasons that become apparent in subsequent sections. Nonetheless the exact year of break is not important in our analysis. Johansens cointegration and OLS are much better known techniques and have been already extensively used by many researchers (contrary to the more recent ARDL bounds testing procedure).
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- See Eagles and James (1988, p. 76) for a historical evidence of closer economic relations (CER) trade agreement between Australia and New Zealand.
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- See Sanidas (2004a) for a crucial distinction between technical (e.g. a machine) and organizational innovations.
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Tcha, M. J, Kuriyama, T. (2003), `Protection Policy under Economies of Scale: The Welfare Effects of Tariffs on the Australian Automotive Industry, Journal of Policy Modelling, vol. 25, pp. 655-72.
- The Industry Science Resources covered the following tariff classifications 8703.21.10, 8703.22.10, 8703.23.10, 8703.24.10, 8703.31.10, 8703.32.10, 8703.33.10 and 8703.90.10 from 1985. The Industry Science Resources provide consistent exports and imports data.
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- This is equivalent to equation (18.181) in Pesaran and Pesaran (1997, p. 394). The coefficient of the dependent variable `y in the ECM is usually standardised to one and hence the other coefficients of the ECM should have a negative sign.
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