Climate change and Australia’s comparative advantage in wheat
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Australia has long been a major exporter of wheat, a commodity well suited to the economic
and climatic conditions of Australia. According to the conventional wisdom, Australia holds
a comparative advantage in wheat. However, the future validity of this proposition is
sensitive to the proposed impacts of climate change. This paper develops a framework with
which to examine the future patterns of comparative advantage in wheat given the
projections of several global climate models. We find support for the conventional wisdom,
and identify the presence of substantial resilience in Australia’s comparative advantage to
adverse yield change.