Research Discussion Papers, Bank of Finland
No 12/1996:
Structural Reform in New Zealand: A Review
Peter Reward
Abstract: This paper discusses the reasons for the change in
economic policy direction adopted in New Zealand in 1984. The paper briefly
outlines the economic history of New Zealand in the period from the early
1970's to 1996. The ultimate test of the success of the economic reforms is
whether they have increased the growth rate of potential per capita output
in the economy. I discuss the evidence on this hypothesis and conclude that
the evidence does support the hypothesis of a structural change in this
measure. Five of the major areas of reform are discussed, these areas are
goods, capital and labour market liberalisation and the fiscal and monetary
policy framework adopted in New Zealand.
Keywords: economic policy reform; New Zealand; (follow links to similar papers)
38 pages, April 11, 1996
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