A tale of two economies: Team New Zealand sails past Australia
Article Abstract:
New Zealand's efforts to reinvent the national economy and the govt have borne fruit over the past decade, and while it faces real problems, it is doing so honestly and will probably succeed. The recent victory in the America's Cup race over Australia symbolized the reforms that have put it in many ways ahead of its neighbor. It now has 6% annual growth, labor costs are under control thanks to direct negotiations between employers and workers, and the govt balances its books using real accounting practices.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Budget comfort
Article Abstract:
New Zealand's FY 1993-94 budget has had a positive effect on that country's bond market. The government cancelled a 2% withholding tax on bond returns for non-residents. Additionally, the government plans to legislate the publication of its own monthly financial performance. This fiscally responsible move has raised the confidence of the financial market. Already, New Zealand's fiscal deficit has shown signs of decreasing, and government bond yields have reached new low.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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More of the same: no fast cure for New Zealand's budget deficit
Article Abstract:
New Zealand's budgetary situation is characterized by a perennial deficit which is expected to continue up to 1995. The deficits are considered necessary to finance the country's economic recovery. Government expenditure would be focused on job creation and worker training. Additional taxes would be levied and existing tax regulations would be tightened to generate additional revenue.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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