Testing Comparative Advantage in Australian Broadacre Agriculture Under Climate Change: Theoretical and Empirical Models

According to the conventional wisdom, Australia enjoys a comparative advantage in broadacre agriculture, despite the fact that little empirical research supporting this proposition has been reported in the literature. This paper seeks to survey the theoretical and empirical models that may potentially be used to test the theory of comparative advantage as it relates to broadacre agriculture under climate change. The implications of the analysis are explored.