Economic Reform in New Zealand 1984-95: The Pursuit of Efficiency

摘要: Between 1984 and 1995 New Zealand changed from a closed centrally controlled economy to one of the most open countries in OECD. The reforms liberalizing were notable for their very comprehensive coverage innovations that included: performance contracts senior civil servants central bank, legislated constraints on fiscal expenditure decisions backed by accrual accounting, tax neutrality, subsidy-free agriculture, no industry-specific regulation competition. Modern microeconomics contributed much policy design. Economic growth has been vigorous since 1991, but different sequencing may have enhanced outcomes.