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Third Way Economic Management in New Zealand

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  • Paul Dalziel

Abstract

The article explains why a ‘Third Way’ for economic management has become important in New Zealand. Economic growth fell sharply compared to Australia after 1984, due to a slow-down in New Zealand's labour productivity growth after 1991. The paper argues this was partially the result of a neglected aspect of economic management during the 1984–94 decade of economic reform: fostering domestic physical capital formation. The third way differs from both the approach adopted prior to 1984 and the approach adopted during New Zealand's reforms, based on government involvement, but not direct intervention, in industry and regional development.

Suggested Citation

  • Paul Dalziel, 2001. "Third Way Economic Management in New Zealand," The Economic and Labour Relations Review, , vol. 12(2), pages 193-207, December.
    • Handle: RePEc:sae:ecolab:v:12:y:2001:i:2:p:193-207
    DOI: 10.1177/103530460101200203
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    References listed on IDEAS

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    1. 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.
    2. Philip Arestis & Malcolm Sawyer (ed.), 2001. "The Economics of the Third Way," Books, Edward Elgar Publishing, number 2221.
    3. Philip Arestis & Malcolm Sawyer, 2001. "A economia da “Terceira Via”," Brazilian Journal of Political Economy, FGV EAESP, vol. 21(4), pages 673-689, October.
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