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No more free beer tomorrow? Economic policy and outcomes in Australia and New Zealand 1984-2003

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  • Hazledine, Tim
  • Quiggin, John

Abstract

In this chapter, we compare the experience of Australia and New Zealand over the period of microeconomic reform that began in the early 1980s. Of particular concern is the question of how New Zealand, with what were seen at the time as the ‘best’ set of economic policies in the OECD, experienced the worst set of economic outcomes, and why Australia, from a broadly similar starting position, did so much better. That the outcomes indeed have differed significantly was perhaps not conclusively clear in earlier work (Easton and Gerritsen (1996), Quiggin (1996), Hazledine (1998), Quiggin (1996)), but we are by now in a position to update the earlier comparisons with the advantage of what is now two full decades of history since the major ‘reform’ processes were set in train.

Suggested Citation

  • Hazledine, Tim & Quiggin, John, 2005. "No more free beer tomorrow? Economic policy and outcomes in Australia and New Zealand 1984-2003," Risk and Sustainable Management Group Working Papers 151509, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqsers:151509
    DOI: 10.22004/ag.econ.151509
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    References listed on IDEAS

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    1. Timothy J Kehoe & Kim J. Ruhl, 2003. "Recent Great Depressions: Aggregate Growth in New Zealand and Switzerland," Levine's Working Paper Archive 506439000000000529, David K. Levine.
    2. Paul Dalziel, 2002. "New Zealand's Economic Reforms: An assessment," Review of Political Economy, Taylor & Francis Journals, vol. 14(1), pages 31-46.
    3. Lewis Evans & Arthur Grimes & Bryce Wilkinson, 1996. "Economic Reform in New Zealand 1984-95: The Pursuit of Efficiency," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1856-1902, December.
    4. Bob Gregory, 1999. "Labour Market Outcomes in the UK, NZ, Australia and the US: Observations on the Impact of Labour Market and Economic Reforms," CEPR Discussion Papers 401, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    5. Stanley L. Engerman & Robert E. Gallman, 1986. "Long-Term Factors in American Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number enge86-1, March.
    6. Timothy Kehoe & Kim Ruhl, 2003. "Recent great depressions: Aggregate growth in New Zealand and Switzerland, 1973-2000," New Zealand Economic Papers, Taylor & Francis Journals, vol. 37(1), pages 5-40.
    7. Melleny Black & Melody Guy & Nathan McLellan, 2003. "Productivity in New Zealand 1988 to 2002," New Zealand Economic Papers, Taylor & Francis Journals, vol. 37(1), pages 119-150.
    8. Quiggin, John, 1998. "Social Democracy and Market Reform in Australia and New Zealand," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 14(1), pages 76-95, Spring.
    9. Jacques Poot (ed.), 2004. "On the Edge of the Global Economy," Books, Edward Elgar Publishing, number 2913.
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Zombie Economics
      by John Quiggin in John Quiggin on 2009-12-04 18:00:00

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    Cited by:

    1. John Edwards & David Gruen & John Quiggin, 2011. "Wrap-up Discussion," RBA Annual Conference Volume (Discontinued), in: Hugo Gerard & Jonathan Kearns (ed.),The Australian Economy in the 2000s, Reserve Bank of Australia.

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    More about this item

    Keywords

    Public Economics; Risk and Uncertainty;

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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