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New Zealand's Economic Reforms: An assessment

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  • Paul Dalziel
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    Abstract

    New 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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    File URL: http://www.tandfonline.com/doi/abs/10.1080/09538250120102750
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Review of Political Economy.

    Volume (Year): 14 (2002)
    Issue (Month): 1 ()
    Pages: 31-46

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    Handle: RePEc:taf:revpoe:v:14:y:2002:i:1:p:31-46

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Erwin Diewert & Denis Lawrence, 1999. "Measuring New Zealand’s Productivity," Treasury Working Paper Series 99/05, New Zealand Treasury.
    2. 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.
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    Cited by:
    1. Tim Hazledine & John Quiggin, 2005. "No More Free Beer Tomorrow? Economic policy and outcomes in Australia and New Zealand 1984-2003," Australian Public Policy Program Working Papers WP4P05, Risk and Sustainable Management Group, University of Queensland.
    2. Starke, Peter, 2005. "Resilient or residual? From the wage earners' welfare state to market conformity in New Zealand," TranState Working Papers 22, University of Bremen, Collaborative Research Center 597: Transformations of the State.
    3. Stillman, Steven & Velamuri, Malathi & Aitken, Andrew, 2010. "The long-run impact of New Zealand's structural reform on local communities," Journal of Comparative Economics, Elsevier, vol. 38(4), pages 432-448, December.
    4. 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.
    5. Paul Dalziel & David Peetz, 2008. "A Note on Perry's Reconsideration of Macroeconomic Evidence from New Zealand," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 41(4), pages 389-393, December.
    6. Alshyab, Nooh, 2013. "The Political Economy of Reform and Development of the Washington Consensus," MPRA Paper 46014, University Library of Munich, Germany.
    7. L. J. Perry, 2008. "Rejoinder to 'A Note on Perry's Reconsideration of Macroeconomic Evidence from New Zealand'," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 41(4), pages 394-398, December.

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