Since 1978 the Chinese economy has grown on average more than 9 percenta year. Per capita income has nearly quadrupled in the past 15 years andsome analysts predict that within 20 years the Chinese economy will belarger than that of the United States. This pamphlet analyzes the reasonsfor the...

This Selected Issues paper focuses on the issues of fiscal policy, rebalancing, and growth in New Zealand. The paper discusses that a key policy challenge for New Zealand is to rebalance the economy and reduce external vulnerabilities. It provides model-based estimates of the potential...

New Zealand has experienced a decade-long robust economic expansion, owing to its sound macroeconomic policies and structural reforms, but resource constraints have emerged. Executive Directors welcomed the policy settings, supported by the anticipated evolution of external and global...

New Zealand rode out the global crisis better than most advanced economies, thanks to strong demand from fast-growing Asian markets and the robust Australian economy, a flexible exchange rate, the absence of a banking crisis, and significant and effective policy easing. This 2010 Article IV...

This Selected Issues paper analyzes the underlying factors that explain the behavior of the Kiwi dollar. The findings suggest that the factors influencing the New Zealand dollar have been changing. The paper discusses that as New Zealand has become more integrated in global capital markets over...

This Selected Issues paper presents an empirical comparison of New Zealand’s growth performance with that of Australia during the post-reform period. The paper shows that most of the divergence in income per capita between the two countries has been the result of lower accumulation of capital...

This 2007 Article IV Consultation highlights that the economic downturn of New Zealand that commenced in 2005 has proved to be short lived. In early 2006, the economy appeared to be cooling quickly, with quarterly growth dropping to zero and confidence and demand indicators deteriorating. Some...

This Selected Issues paper conducts a comparative analysis of the main determinants of GDP per capita growth in New Zealand and in other OECD countries to assess the relative importance of macroeconomic factors, institutional settings, and geographical location in New Zealand’s growth...