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With the 2013 general election now out of the way, the new government is well placed, if it has sufficient strength of purpose, to address the various issues that are at risk of engulfing the Australian Defence Force (ADF) and Defence Department. The immediate and dominant issue is that likely levels of defence funding are not enough to sustain today's ADF and simultaneously to fund its modernisation. To resolve this core inconsistency will require dispassionate analysis of Australia's evolving strategic circumstances, so that decisions on the size and preparedness of the ADF and on the rate and direction of its modernisation can have a secure foundation. This will both allow assessments of strategic risk and provide a rigorous basis for arguing for different levels of funding. [ABSTRACT FROM AUTHOR]

Within the developed world, recent Australian political history is uniquely turbulent. This situation invokes indecision regarding investment decisions in both the real economy and the financial markets. This paper explores the relationship between uncertainty in Australian federal election polling and resulting financial market uncertainty. Empirical evidence suggests that increasing (decreasing) levels of uncertainty around the election result induce higher (lower) levels of uncertainty in financial markets. The effect is more pronounced as polling day approaches. Industry-level analysis suggests that the base materials sector is most significantly affected by election uncertainty in Australia. [ABSTRACT FROM AUTHOR]

Which electorates receive targeted funding, and does targeted funding swing votes? To answer these questions, I analyze four discretionary programs funded by the Australian federal government during the 2001–2004 election cycle. Controlling for relevant demographic characteristics of the electorate, those electorates held by the governing coalition received a larger share of discretionary funding, and a larger number of program grants. Among government seats, funding does not appear to have been directed towards those that were more marginal. More discretionary funding—particularly on road-building—was associated with a larger swing towards the government in the 2004 election. [ABSTRACT FROM AUTHOR]