Being endowed with natural resources does not curtail the capacity of an economy to innovate or grow. This is the message from the latest CEDA research paper, Innovation and growth in resource-based economies, released today. 

Several of the richest and/or fastest-growing economies - including Australia - have a high dependence on resource industries. While innovation is typically associated with "high-tech" industries, most innovation occurs within lower technology industries which make up the bulk of economic activity. Notwithstanding, unlocking the potential of Australia's resource base is far more sophisticated than often credited. Australia's resources sector can not just fuel economic growth, but can drive innovation.

The paper, by innovation expert Professor Keith Smith, is the latest pre-release from CEDA's Competing from Australia project. Competing From Australia takes the first truly 21st-century look at Australia's trade and investment capacity in the globalising world economy. The full research report will be launched by Geoffrey Blainey and Graeme Kraehe (CEO, Bluescope Steel) on 9 July 2007 in Melbourne.

To order a copy of Innovation and growth in resource-based economies click here. The report is available to CEDA members free of charge.

To register for the Competing from Australia launch event, which includes lunch and a copy of the full research report, click here or contact Vicki Kyritsis on (03) 9652 8412.

For further information about the Competing from Australia project, please contact David Walker, Policy and Communications Director on (03) 9652 8402 or 0407 133 020.