Measuring Economic Growth in New Zealand
AbstractThis paper examines New Zealand’s ranking in the OECD based on real GDP per capita. The fall in ranking experienced by New Zealand implies that real GDP per capita growth in New Zealand has been relatively poor in comparison to other OECD countries. The paper examines the history of New Zealand’s growth rate and explores the differences between various techniques for measuring average growth rates. The approaches are all shown to be variants of the average annual growth rate but differ in terms of the weighting structure used. Ultimately, the most appropriate technique depends on the underlying data generating process. The implications of data construction techniques for measured growth rates are discussed and differences between the growth rates obtained from different data sources are illustrated. The paper also illustrates the sensitivity of New Zealand growth rates to the sample period chosen.
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Bibliographic InfoPaper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 02/14.
Length: 40 pages
Date of creation: Sep 2002
Date of revision:
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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
More information through EDIRC
Economic Growth; Measuring Growth; International Comparisons;
Find related papers by JEL classification:
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
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.:
- Robert A Buckle & David Haugh & Peter Thomson, 2001.
"Calm after the Storm?: Supply-side contributions to New Zealand’s GDP volatility decline,"
Treasury Working Paper Series
01/33, New Zealand Treasury.
- Robert Buckle & David Haugh & Peter Thomson, 2003. "Calm after the storm? Supply-side contributions to New Zealand's GDP volatility decline," New Zealand Economic Papers, Taylor and Francis Journals, vol. 37(2), pages 217-243.
- W A Razzak, 2004. "Towards Building A New Consensus About New Zealand’s Productivity," GE, Growth, Math methods 0405002, EconWPA.
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