This paper extends the staple theory literature by examining the influence of wool, Australia's dominant primary …-product export, on the development of the Australian economy and external position over the period 1862-1995. The results support the … view that while shocks to the wool industry had significant effects on the Australian economy and external position in the …

This paper examines the influence of the wool export cycle on the business cycle in Australia over the period 1862 …-1995. Nonparametric statistical methods are used to examine various attributes of the relationship between the wool export cycle and the … business cycle. Our results support the view that while the wool export cycle was in synchronisation with the business cycle …