What did rogernomics do?
Rogernomics featured market-led restructuring and deregulation and the control of inflation through tight monetary policy, accompanied by a floating exchange-rate and reductions in the fiscal deficit. Douglas came from a background of Labour Party politics.
How did New Zealand’s economy change with deregulation in the 1980s?
The financial market was deregulated and controls on foreign exchange were removed. The removal of tariff protection exposed local producers to greater competition from imports which resulted in the loss of thousands of manufacturing jobs.
What impact did the Europeans have on NZ?
As Europeans settled in New Zealand, they brought more changes to the remaining forests, animal diversity and landscape stability. Along with immigrants came new animals, crop plants, parasites and diseases. The remaining lowland forests and scrubland were burnt, drained, logged and cleared for farms and cropping.
How has New Zealand’s economy changed?
The stock market continues to show strong growth as well, rising 22% in 2017, held up by the economy growing at a rate that is above its long-term trend. GDP is forecasted to increase as well due to strong tourism growth, low-interest rates, and high net migration.
What were muldoons think big projects?
The ‘Think Big’ projects were an attempt by Muldoon to diversify the New Zealand economy by creating new primary processing industries and developing energy projects.
When did NZ adopt neoliberalism?
There is little doubt that New Zealand’s economic and social institutions were rapidly and significantly reformed during the late 1980s and early 1990s (Boston et al. 1999, Kelsey 1993).
Which part of New Zealand contributed most to the economic growth in the early 1800’s?
Gold was discovered in several parts of New Zealand (including Thames and Otago) in the mid-nineteenth century, but the introduction of sheep farming in the 1850s gave a more enduring boost to the economy.
What type of economy is New Zealand?
New Zealand has an open economy that works on free market principles. It has sizeable manufacturing and service sectors complementing a highly-efficient agricultural sector. Exports of goods and services account for around one third of real expenditure GDP.
What was New Zealand named after?
Zeeland
In December 1642 Dutch navigator Abel Janszoon Tasman was the first European to sight New Zealand’s South Island, and Dutch cartographers named the territory after the Dutch maritime province of Zeeland.
Who discovered New Zealand First?
explorer Abel Tasman
The dutch explorer Abel Tasman is officially recognised as the first European to ‘discover’ New Zealand in 1642.
What were NZ Think Big projects?
What was the Rogernomics policy?
Despite its socialist roots, the new government introduced radical free-market reforms. These reforms were soon dubbed ‘Rogernomics’, after controversial Finance Minister Roger Douglas. The Labour Government radically reduced the size and role of the state.
What was the age of reform in the 1800s?
Reform Movements 1800s The nineteenth century was a time for social reform in the United States. Some historians have even labeled the period from 1830 to 1850 as the “Age of Reform.” Women, in particular, played a major role in these changes.
What is ‘Rogernomics?
These reforms were soon dubbed ‘Rogernomics’, after controversial Finance Minister Roger Douglas. The Labour Government radically reduced the size and role of the state. It corporatised and restructured government departments, often in preparation for privatisation, and sold some state assets to private investors.
What happened to the economy in the 19th century?
Some people prospered, but others suffered as unemployment rose and the stock market crashed. Until the century’s end, governments maintained policies limiting the state’s involvement in people’s lives and the economy.