New Zealand; Selected Issues

Preprint OPEN
International Monetary Fund (2002)
  • Subject: Economic conditions;Article IV consultations;Selected issues;New Zealand;capital stock, capita growth, explanatory variables, tax rate, terms of trade | Economic conditions;New Zealand;monetary policy, inflation targeting, international monetary fund, inflation, economic instability | Economic conditions;New Zealand;capital stock, capital accumulation, tfp, value added, cost of capital | Announcements;Performance criteria waivers;Performance criteria modifications;Poverty Reduction and Growth Facility;capital inflows, capital flows, external debt, current account, capital inflow | Economic conditions;Article IV consultations;Selected issues;New Zealand;migration, labor, net migration, unemployment rate, labor market | External borrowing;Financial sector;Financial risk;Banks;Commercial credit;Corporate sector;Credit risk;Cross country analysis;Fiscal policy;Housing prices;Household credit;Selected issues;debt, capital inflows, interest, balance of payments, interest rates | Current account;Economic stabilization;Selected issues;New Zealand;Imports;import penetration, price of imports, export supply, international trade, import prices | Economic conditions;Article IV consultations;Selected issues;New Zealand;business cycle, international monetary fund, exchange rate, interest, interest rates | Financial systems;Financial soundness indicators;Financial institutions;External debt;Exchange rates;Banking systems;Currencies;Selected issues;New Zealand;Investment;Foreign exchange;Tax systems;exchange rate, interest rate, interest rates, commodity prices
    mesheuropmc: health care economics and organizations

This Selected Issues paper conducts a comparative analysis of the main determinants of GDP per capita growth in New Zealand and in other OECD countries to assess the relative importance of macroeconomic factors, institutional settings, and geographical location in New Zealand’s growth performance during the last 30 years. The estimation results find strong support for the view that geographical isolation has significantly hampered growth in New Zealand. The paper also reviews the international experience with prefunding public defined-benefit pension schemes, with a focus on recent reforms in industrial countries—Canada, Ireland, Norway, and Sweden.
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