{"id":874,"date":"2016-02-02T07:20:01","date_gmt":"2016-02-02T07:20:01","guid":{"rendered":"http:\/\/ausgrant.com.au\/?p=874"},"modified":"2016-02-29T23:41:12","modified_gmt":"2016-02-29T23:41:12","slug":"transforming-the-lucky-country-to-the-competitive-country","status":"publish","type":"post","link":"https:\/\/ausgrant.com\/au\/transforming-the-lucky-country-to-the-competitive-country\/","title":{"rendered":"Transforming the Lucky Country to the Competitive Country"},"content":{"rendered":"<p><a href=\"http:\/\/ausgrant.com.au\/wp-content\/uploads\/2016\/02\/arm-wrestling-567950_960_720.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-875 alignleft\" src=\"https:\/\/ausgrant.com.au\/wp-content\/uploads\/2016\/02\/arm-wrestling-567950_960_720-300x200.jpg\" alt=\"arm-wrestling-567950_960_720\" width=\"246\" height=\"164\" \/><\/a>\u201cThe Lucky Country\u201d \u2013 the expression has single-handedly become shorthand for describing our weather, our lifestyle, and our history. First coined by Donald Horne in a rather sarcastic manner in 1964, the book has gone on to become a cult classic, as well as trademarking Australia with a nickname.\u00a0 Although, is it time we departed from our good fortune and became more competitive instead?<\/p>\n<p>Traditionally, when public discourse states\u00a0the need for Australian firms to be more competitive, it usually refers to\u00a0the government implementing policies that make it easier for firms to compete with their foreign rivals. However, this is not quite what economists propose when they say heightened competition is a key driver of improved economic performance. Rather, they mean Australian firms should be forced to improve their own performance by exposing them to greater competition with other Australian firms.<\/p>\n<p>To clarify,\u00a0John Fraser, the Treasury Secretary of Australia, explains that\u00a0competition is at the heart of how market economies are organised.\u00a0&#8220;Competitive markets generally deliver benefits for all Australians in a way that sheltered markets fail to do so,&#8221; he says. &#8220;Effective competition in our economy is a key part of its strength and dynamism. Competitive markets benefit consumers by putting downward pressure on prices &#8230;\u00a0And over time, competitive pressures drive innovation and investment in new technologies and the development of new products and quality services that meet the needs of consumers. This process of innovation is what drives economic growth and improvements in living standards in the long term.&#8221;<\/p>\n<p>Indeed, as can seen from the above, competitiveness certainly can aid innovation on a <em>firm<\/em> level, but can it assist innovation in Australia as a <em>nation<\/em>?\u00a0For instance,\u00a0 Philip Dalidakis, Victoria\u2019s innovation minster, has been shamelessly competitive in ensnaring start-ups and innovation events from other states, having pinched the SydStart conference \u2014 to be retitled StartCon \u2014 and habitually stirring his NSW counterpart on Twitter. In opposition,\u00a0NSW\u2019s minister for innovation Victor Dominello, \u00a0called for an end to \u201cschoolyard games\u201d and believed competition was fruitless.<\/p>\n<p>Despite this,\u00a0Assistant minister for innovation Wyatt Roy has backed the Victorian government\u2019s competitive agenda. \u00a0Roy described that\u00a0the rivalry produces strong outcomes and he wants to see more competitive tension between the states. In particular, he believes\u00a0fierce rivalry with the likes of New South Wales and Queensland would lead to better policy creation, and there would be room for more than one innovation hub in Australia.<\/p>\n<p>As elucidated above, there is certainly a link between innovation and competition.\u00a0In fact, research by Aghion, Bechtold, Cassar and Herz (2014) showed\u00a0that increased competition leads to a significant increase in research and development (R&amp;D) investments by neck and neck firms, which subsequently boosts innovation.\u00a0Besides supporting the creation of new products, processes, and software, R&amp;D can increase profits and knowledge for a company. It not only\u00a0benefits firms,but \u00a0the avails\u00a0of new knowledge can have positive spillover effects on the broader nation&#8217;s innovation levels. Additionally, companies can benefit further by utilising the government&#8217;s R&amp;D Tax Incentive. Find out if you&#8217;rer eligible\u00a0for the R&amp;D Tax Incentive in our blog:\u00a0<a href=\"http:\/\/ausgrant.com.au\/how-do-i-know-if-i-do-rd-if-i-qualify-for-the-tax-incentive\/\" target=\"_blank\">How Do I Know If I do R&amp;D &amp; If I Qualify for the Tax Incentive?<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><em><a href=\"http:\/\/ausgrant.com.au\/contact-us\/\" target=\"_blank\">AusGrant<\/a> is one of Australia\u2019s leading grant consultancy services,\u00a0providing\u00a0specialist services relating to grant\u00a0submissions to federal and state\u00a0government\u00a0agencies.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe Lucky Country\u201d \u2013 the expression has single-handedly become shorthand for describing our weather, our lifestyle, and our history. First <a href=\"https:\/\/ausgrant.com\/au\/transforming-the-lucky-country-to-the-competitive-country\/\" style=\"float:right; padding-bottom:10px;\"><br \/><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-874","post","type-post","status-publish","format-standard","hentry","category-latest-news"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transforming the Lucky Country to the Competitive Country - AusGrant - Leading R&amp;D Grant Writers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ausgrant.com.au\/transforming-the-lucky-country-to-the-competitive-country\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transforming the Lucky Country to the Competitive Country - AusGrant - Leading R&amp;D Grant Writers\" \/>\n<meta property=\"og:description\" content=\"\u201cThe Lucky Country\u201d \u2013 the expression has single-handedly become shorthand for describing our weather, our lifestyle, and our history. 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