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New Zealand's international competitiveness challenges and the Woody Allen syndrome

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  • Sebastian Edwards

Abstract

The purpose of this paper is to investigate the (relative) roles of two sources of reduced international competitiveness in New Zealand during the last few years: the appreciation of the trade-weighted real exchange rate, and the (relative) inefficiency of the local service sector. According to the exercises reported in this paper, reducing services' inefficiencies is a more effective way of improving competitiveness, broadly defined, than engineering (or hoping for) a real exchange rate depreciation.

Suggested Citation

  • Sebastian Edwards, 2013. "New Zealand's international competitiveness challenges and the Woody Allen syndrome," New Zealand Economic Papers, Taylor & Francis Journals, vol. 47(1), pages 8-26, April.
    • Handle: RePEc:taf:nzecpp:vv:47:y:2013:i:1:p:8-26
    DOI: 10.1080/00779954.2012.733140
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    References listed on IDEAS

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    1. Corden, W. Max, 1995. "Economic Policy, Exchange Rates, and the International System," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226115917, November.
    2. William R. Cline & John Williamson, 2010. "Notes on Equilibrium Exchange Rates: January 2010," Policy Briefs PB10-2, Peterson Institute for International Economics.
    3. Stephenson, John & Yang, Qing, 2011. "Industry productivity and the Australia-New Zealand income gap," NZIER Working Paper 2011/3, New Zealand Institute of Economic Research.
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