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The transaction sector, the information economy, and economic growth in New Zealand: Taking hazledine seriously


  • Hans-Jurgen Engelbrecht


The aim of this paper is to broaden the discussion about the role of the 'transaction sector' in New Zealand economic growth by relating it to the seemingly alternative, but actually complementary, concept of the information economy, and by indicating some new directions for research. First, a brief overview of approaches to measuring transaction costs is provided. Secondly, the complementary nature of the information economy and transaction sector concepts is discussed. Next, empirical estimates of the information and transaction workforces are presented. Fourthly, the major points that need to be considered in the development of an extended, more complex, hypothesis about the role of the transaction sector in New Zealand economic growth are discussed, and- a first version of such a hypothesis is put forward.

Suggested Citation

  • Hans-Jurgen Engelbrecht, 2004. "The transaction sector, the information economy, and economic growth in New Zealand: Taking hazledine seriously," New Zealand Economic Papers, Taylor & Francis Journals, vol. 38(1), pages 87-99.
  • Handle: RePEc:taf:nzecpp:v:38:y:2004:i:1:p:87-99
    DOI: 10.1080/00779950409544395

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    References listed on IDEAS

    1. Kevin Denny, 2003. "The effects of human capital on social capital : a cross-country analysis (version 1.6)," Working Papers 200318, School of Economics, University College Dublin.
    2. repec:ucn:wpaper:10197/1106 is not listed on IDEAS
    3. Kevin Denny, 2003. "The effects of human capital on social capital: a cross-country analysis," IFS Working Papers W03/16, Institute for Fiscal Studies.
    4. Kevin Denny, 2003. "The effects of human capital on social capital : a cross-country analysis (Version 1.61)," Open Access publications 10197/1106, School of Economics, University College Dublin.
    5. Engelbrecht, Hans-Jurgen & Mahon, Anne, 2003. "Maori And The Information Workforce, 1991-2001," Discussion Papers 23697, Massey University, Department of Applied and International Economics.
    6. Philip McCann, 2003. "Geography, Trade and Growth: Problems and Possibilities for the New Zealand Economy," Treasury Working Paper Series 03/03, New Zealand Treasury.
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    Cited by:

    1. Kuzmin, Evgeny A. & Berdyugina, Oksana N. & Karkh, Dmitri A., 2015. "Conceptual Challenges of Observability for Transaction Sector in Economy," MPRA Paper 66168, University Library of Munich, Germany, revised Jun 2015.
    2. Cuevas, Agham C., 2014. "Transaction Costs of Exchange in Agriculture: A Survey," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 11(1), pages 1-18, June.

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