This paper updates the results of an earlier paper (Johnson 1996) exploring productivity trends 1972-92 prepared for the OECD. Tornqvist indexes are used to compensate for changes in the mix of outputs and inputs. Capital is charged at service prices. Present indications are that labour and...

This paper reports on a survey of past trends in national and sectoral R&D expenditure in New Zealand back to 1962 and models used to measure the rate of return to investment in R&D. Cobb Douglas models are compared with productivity models and are used to explore the interaction between R&D and...

There has developed in recent years some concern about the effectiveness of government policy, especially concerning its implementation and the agencies responsible for it. Institutional economics and transaction cost economics provide a number of pointers to the evaluation of past policy aims...

The agricultural sector tends to get a bad press and low priority from NZ Treasury due to the falling share of GDP. On the other hand, the agricultural sector in NZ shows up highest in the OECD total factor productivity studies! Is not the efficient use of resources the main factor Treasury...