Macroeconomics of New Zealand
Macroeconomics New Zealand 2001 | May 12
2011
| This document contains 1552 words without the Harvard style referencing and the table of contents. | |
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Created by: Rausch Péter
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Module: Macroeconomics
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Contents Economic profile of New Zealand 3 Rate of GDP Growth 4 Stance of Fiscal policy 6 Government spending 2001 6 Financial System 7 Exchange rate 8 Balance of Payment 9 Works Cited 10
New Zealand’s Macroeconomic situation
This is going to be an analysis of New Zealand’s Macroeconomic situation taking into consideration the most important measures of a country’s economy.
Economic profile of New Zealand New Zealand has a market economy with sizeable manufacturing and services sectors complementing a highly efficient export-oriented agricultural sector. Energy-based industries, forestry, mining, horticulture and tourism have expanded rapidly over the last decade. Agriculture and commodity exports remain important to the country but significance of the service sector relative to primary production and manufacturing continues to grow.
Rate of GDP Growth
(See figure 1 for graphical analysis)
The economy of New Zealand grew rapidly in the mid-1990s. However the economy slipped over the first half of 1998 into recession because of the Asian economic downturn, in addition a summer drought occurred at the same time, which made the economy slow down. The decline of the economy was short-lived since it was recovering through 1998 and 1999. New Zealand’s economy has expanded by 3.9% in 1999 and by 3.7% in 2000.
Growth slowed in the first half of 2000, it was due to the preparation of Y2K and other external factors. Business and consumer confidence also felt sharply, weakening domestic demand. However employment growth was strong in the second half of the year and unemployment rate fell
2011
| This document contains 1552 words without the Harvard style referencing and the table of contents. | |
-------------------------------------------------
Created by: Rausch Péter
-------------------------------------------------
Module: Macroeconomics
-------------------------------------------------
Contents Economic profile of New Zealand 3 Rate of GDP Growth 4 Stance of Fiscal policy 6 Government spending 2001 6 Financial System 7 Exchange rate 8 Balance of Payment 9 Works Cited 10
New Zealand’s Macroeconomic situation
This is going to be an analysis of New Zealand’s Macroeconomic situation taking into consideration the most important measures of a country’s economy.
Economic profile of New Zealand New Zealand has a market economy with sizeable manufacturing and services sectors complementing a highly efficient export-oriented agricultural sector. Energy-based industries, forestry, mining, horticulture and tourism have expanded rapidly over the last decade. Agriculture and commodity exports remain important to the country but significance of the service sector relative to primary production and manufacturing continues to grow.
Rate of GDP Growth
(See figure 1 for graphical analysis)
The economy of New Zealand grew rapidly in the mid-1990s. However the economy slipped over the first half of 1998 into recession because of the Asian economic downturn, in addition a summer drought occurred at the same time, which made the economy slow down. The decline of the economy was short-lived since it was recovering through 1998 and 1999. New Zealand’s economy has expanded by 3.9% in 1999 and by 3.7% in 2000.
Growth slowed in the first half of 2000, it was due to the preparation of Y2K and other external factors. Business and consumer confidence also felt sharply, weakening domestic demand. However employment growth was strong in the second half of the year and unemployment rate fell
Cited: About Monetary Policy. (2007). Retrieved May 14, 2011, from Reserve Bank of New Zealand: http://www.rbnz.govt.nz/monpol/about/ Archive of New Zealand Economic and Financial Overviews - The Treasury New Zealand. (2001). Retrieved May 14, 2011, from The Treasury - New Zealand: http://www.treasury.govt.nz/economy/overview/archive Country statistical profile: New Zealand - Country statistical profiles: Key tables from OECD - OECD library. (n.d.). Retrieved May 14, 2011, from http://www.oecd-ilibrary.org/: http://www.oecd-ilibrary.org/economics/country-statistical-profile-new-zealand_20752288-table-nzl Cullen, M. (2001). Archive of budgets of the government of New Zealand. Retrieved May 13, 2011, from The Treasury - New Zealand: http://www.treasury.govt.nz/budget/2001 Previous Monetary Policy Statements. (2001). Retrieved May 12, 2011, from Reserve Bank of New Zealand: http://www.rbnz.govt.nz/monpol/statements/0094172.html