New Zealand

[Bill Cochrane]

In answer to your questions,
1/ no
2/ Restructuring was hardly a great success with most neo-libs now say 
stuff like ' it might be crap but it would've been even worse without 
restructuring' and even treasury has to try hard to put a positive spin on 
things like productivity growth. This said NZ's dismal economic performance 
cant be laid entirely at the door of the neo-libs - we've spent a large 
chunk of the last hundred years trying to think of a plan that would stop 
us sliding off into the bottom end of the second world. If not for the odd 
fortuitous commodity boom, our previous close relationship with the Brits 
and the fact that Australia is full of Australians we'd all be in small 
canoes paddling like bastards for Sydney. Despite our current reasonable 
performance the malaise of low productivity growth, unrealistic consumption 
norms, poor levels of investment etc all still wait to scuttle us.
3/ If you want more recent data try statistics nz at 
http://www.stats.govt.nz/ . Their hot of the press series has most current 
data which by enlarge is the best its been for a decade or more - 
Unemployment 5.2% & 2.3% GDP growth & inflation of around 3.5%. Probably 
the best part of the current situation is that the growth that has been 
occurring is due to the strength of the export sector rather than 
consumption lead. Cullen the minister of finance gets a lot of the credit 
for this due to his determination to run a low NZ dollar, round the 40-43 
cent US mark. All in all the Labour / Alliance government has been cruising 
along slightly to the left of its English counterpart (according to my 
compass) - particularly in social policy - so we aren't to unhappy.
If you want to know anything in particular let me know
cheers
Bill Cochrane.

At 18:02 5/10/2001 -0300, you wrote:


>-I was studying the performance of the New Zealand economy after one of
>the most extensive liberalizations programs in the World, and frankly,
>I found it quite mediocre. Low GNP growth (average 2% from 1989 to 1998
>in a country whose populations grows by 1%/year), a devastating
>deterioration
>of current account balance (-7% in 1998, never saw a so ugly curve) and
>a harmful effect over industry.I don´t know the why´s of liberal euphoria
>over that country, So...
>1-Am I being too biased?
>2-Does anyone have something to add? Maybe Dennis, Doug???
>3-More recent data?