tailieunhanh - New Zealand Economic and Financial Overview February 1998

As regional leaders grapple with these design questions, they learn to become more trusting of one another. As these relationships grow, leaders’ capacity to think and act quickly on complex strategic issues can increase dramatically. Stronger, more focused leadership networks emerge that are capable of taking on the challenges of transforming a regional economy. Successful regions build stable, pragmatic partnerships composed of people who share important qualities. These individuals possess the personal integrity needed to strengthen the bonds of trust within the team. They have access to resources that they are willing to link, leverage and align with the region’s. | New Zealand Economic and Financial Overview February 1998 Dusky Sound Fiordland ISSN 1 173 - 2334 Table of Contents 3 SUMMARY 5 SELECTED STATISTICAL AND FINANCIAL DATA 6 MAP 9 NEW ZEALAND 9 Area and Population 9 Form of Government 10 Social Framework 10 The Treaty of Waitangi 11 Foreign Relations 11 Membership in International Economic Organisations 13 THE ECONOMY OF NEW ZEALAND 13 Introduction 13 Background 14 The 1990s 15 International Comparisons 16 Recent Developments and Outlook 16 Reforms Since The Mid-1980s 17 Fiscal Policy 19 Monetary Policy 20 Public Sector Restructuring 20 Public Debt 21 National Accounts 23 Prices and Costs 24 Labour Markets 27 Industrial Structure and Principal Economic Sectors 39 EXTERNAL SECTOR 39 External Trade 48 Foreign Investment Policy 49 Balance of Payments 50 Foreign-Exchange Rates and Overseas Reserves 53 53 SUPERVISION OF THE FINANCIAL SECTOR The Reserve Bank of New Zealand 53 Financial Sector Structural Developments FURTHER INFORMATION 54 Business Law Environment 57 MONETARY POLICY Unless otherwise specified all monetary units in this 58 Interest Rates and Money and Credit Aggregates Overview are New Zealand dollars. The mid-point exchange 61 PUBLIC FINANCE AND FISCAL POLICY rate on February 28 1998 was NZ US . See 61 Public Sector Financial System Foreign Exchange Rates and Overseas Reserves for a discussion of the valuation of the New Zealand dollar in recent years. 61 Public Sector Financial Management 62 The Fiscal Responsibility Act 1994 64 Fiscal Policy Objectives The fiscal year of the Government of New Zealand ends on 64 Financial Management Developments 30 June. 65 Current Fiscal Position 66 Statement of Financial Position Balance Sheet Spelling and punctuation conform to usage in New Zealand 67 Taxation and have not been adjusted to conform to usage in the 69 GOVERNMENT ENTERPRISES United States or any particular external market. 69 Reform of Government Enterprises 70 Sale of Government Enterprises Where .

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