No More Free Beer Tomorrow? Economic policy and outcomes in Australia and New Zealand 1984-2003
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.
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- 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.
- Melleny Black & Melody Guy & Nathan McLellan, 2003.
"Productivity in New Zealand 1988 to 2002,"
Treasury Working Paper Series
03/06, New Zealand Treasury.
- 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.
- Paul Dalziel, 2002. "New Zealand's Economic Reforms: An assessment," Review of Political Economy, Taylor & Francis Journals, vol. 14(1), pages 31-46.
- 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.
- Quiggin, John, 1998. "Social Democracy and Market Reform in Australia and New Zealand," Oxford Review of Economic Policy, Oxford University Press, vol. 14(1), pages 76-95, Spring.
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