New Zealand's Economic Reforms: An assessment
AbstractNew Zealand's economic policy between 1984 and 1996 is often hailed as an example of comprehensive supply-side reform that successfully improved the performance of a weak economy. In contrast, this paper presents statistical evidence to show that: (1) New Zealand sacrificed a large volume of real per capita gross domestic product after 1987; (2) its average unemployment rate increased substantially after 1988; (3) labour productivity growth declined after 1992; and (4) the per capita real income of low-income households in 1996 was more than 3% lower in absolute terms than it had been in 1984. The paper concludes that the economic reform programme did not achieve the objectives expected at its launch.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Review of Political Economy.
Volume (Year): 14 (2002)
Issue (Month): 1 ()
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- Erwin Diewert & Denis Lawrence, 1999. "Measuring New Zealand’s Productivity," Treasury Working Paper Series 99/05, New Zealand Treasury.
- Paul Conway & Adrian Orr, 2000. "The process of economic growth in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 63, March.
- Tim Hazledine & John Quiggin, 2005.
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Australian Public Policy Program Working Papers
WP4P05, Risk and Sustainable Management Group, University of Queensland.
- Hazledine, Tim & Quiggin, John, 2005. "No more free beer tomorrow? Economic policy and outcomes in Australia and New Zealand 1984-2003," Risk and Sustainable Management Group Working Papers 151509, University of Queensland, School of Economics.
- Alshyab, Nooh, 2013. "The Political Economy of Reform and Development of the Washington Consensus," MPRA Paper 46014, University Library of Munich, Germany.
- Chatterjee, Srikanta & Dalziel, Paul & Daunfeldt, Sven-Olov & Podder, Nripesh, 2008. "Income Inequality and Transformation of the Welfare State: A Comparative Study of the Reforms in New Zealand and Sweden," HUI Working Papers 20, HUI Research.
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