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Budget Management That Counts: Recent Approaches to Budget and Fiscal Management in New Zealand

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Author Info

  • Angela Barnes
  • Steve Leith

    ()
    (New Zealand Treasury)

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    Abstract

    Budget management in New Zealand altered substantially with the implementation of the Public Finance Act 1989 and the Fiscal Responsibility Act 1994. The paper sets out the evolution of fiscal and budget management over the last ten years, in response to the fiscal policy and financial management framework. It focuses on the top-down management of spending aggregates and how this has evolved into the “fiscal provisions” framework. The paper concludes with an illustration of the challenges facing the provisions framework. Work is currently underway to consider the challenges that have arisen through its operation over the last five years. This paper is a companion paper to Treasury Working Paper 01/25 New Zealand’s Fiscal Policy Framework: Experience and Evolution by John Janssen.

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    File URL: http://www.treasury.govt.nz/publications/research-policy/wp/2001/01-24/twp01-24.pdf
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    Bibliographic Info

    Paper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 01/24.

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    Length: 20 pages
    Date of creation: 2001
    Date of revision:
    Handle: RePEc:nzt:nztwps:01/24

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    Postal: New Zealand Treasury, PO Box 3724, Wellington, New Zealand
    Phone: +64-4-472 2733
    Fax: +64-4-473 0982
    Web page: http://www.treasury.govt.nz
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    Related research

    Keywords: Fiscal provisions; fixed nominal baselines;

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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. Robert A Buckle & Kunhong Kim & Julie Tam, 2001. "A Structural VAR Approach to Estimating Budget Balance Targets," Treasury Working Paper Series, New Zealand Treasury 01/11, New Zealand Treasury.
    2. John Janssen, 2001. "New Zealand's Fiscal Policy Framework: Experience and Evolution," Treasury Working Paper Series, New Zealand Treasury 01/25, New Zealand Treasury.
    3. Murray Petrie & David Webber, 2001. "Review of Evidence on Broad Outcome of Public Sector Management Regime," Treasury Working Paper Series, New Zealand Treasury 01/06, New Zealand Treasury.
    4. Julie Tam & Heather Kirkham, 2000. "Automatic Fiscal Stabilisers: Implications for New Zealand," Treasury Working Paper Series, New Zealand Treasury 01/10, New Zealand Treasury, revised 2001.
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    Cited by:
    1. Hideaki Tanaka, 2005. "Fiscal Rules and Targets and Public Expenditure Management: Enthusiasm in the 1990's and its Aftermath," Asia Pacific Economic Papers, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University 346, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.

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