Revision of author's thesis, Oxford. This book provides the first detailed explanation of the transformation of the Australian economy in the early 1890’s, when an era of rapid growth and an excessive speculative boom in urban land and mining shares ended in a deep depression; the inflow of British capital almost ceased, and crises in the public and private finances ensured, culminating in bank suspensions in 1893. The book is a combination of applied economics and ‘quantitative-historical’ analysis, offering enlightenment to economists and economic historians in their understanding of cyclical fluctuations in a rapidly growing dependent economy.
Bibliography: p. 351-358.