The economic impact of the Australia–US free trade agreement

The Australia–United States Free Trade Agreement (AUSFTA) came into effect in 2005. It was the second preferential trade agreement that Australia signed, after its agreement with Singapore, and marked a departure from the primacy of Australia's previous trade policy of unilateral and multilateral trade liberalisation toward preferential liberalisation. This paper assesses the economic effects of AUSFTA by applying the Productivity Commission's gravity model of trade from its Bilateral and Regional Trade Agreements review. The evidence reveals AUSFTA resulted in a fall in Australian and US trade with the rest of the world—that the agreement led to trade diversion. Estimates also show that AUSFTA is associated with a reduction in trade between Australia and the United States.     

Children,social capital and health: increasing the well‐being of young people in rural Wales

This paper explores the usefulness of employing the concept of social capital within a research project investigating the best ways of meeting the health and well‐being needs of young people living in rural Wales. The first part of the paper provides an overview of some of the current research exploring the relationship between social capital, health and young people. The second part provides an overview of findings from an action research project to illustrate how social capital is conceived and applied in this context. It concludes by stating that children and young people do actively generate, draw upon and negotiate their own social capital, and that this is an under‐utilised resource in terms of promoting health and well‐being.