New Zealand's remarkable reforms : fifth IEA annual, Hayek memorial lecture, given in London on Tuesday, 4 June 1996
Author(s)
Bibliographic Information
New Zealand's remarkable reforms : fifth IEA annual, Hayek memorial lecture, given in London on Tuesday, 4 June 1996
(Hayek memorial lecture)(Occasional paper / Institute of Economic Affairs (Great Britain), 100)
Institute of Economic Affairs, 1996
Available at 3 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references
Description and Table of Contents
Description
New Zealand's economy has revived in the last few years, following ...one of the most remarkable economic liberalisations in modern times' since 1984. There is little public enthusiasm for reversing the reforms. once one of the most regulated OECD economies, New Zealand is now one of the least regulated. Unemployment has recently fallen sharply. The estimated sustainable growth rate of real GDP is now 3-3half per cent. The transformation of New Zealand - from a protectionist, regulated society with 'cradle-to-grave' welfare to an open, market-based economy operating under the rule of law - has a 'Hayekian flavour'. Under the guidance of Roger (now Sir Roger) Douglas, New Zealand adopted a 'big bang' approach to reform, though the pace of reform slackened from a time in the late 1980s. Micro-economic reforms included removal of controls on wages, prices, and foreign exchange and floating of the New Zealand dollar. Import quotas have been removed and tariffs reduced. Agricultural and industrial subsidies have virtually disappeared.
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