The New Zealand economy is now famous in policy circles for its turnaround during the 1980s and 1990s. Starting from a state of semiautarky in the early 1980s, New Zealand now has one of the most vibrant economies in the world. In fifteen years, successive governments reformed the country's institutional environment by injecting high doses of deregulation and opening the economy.
A consensus is now emerging in regard to what has made the economy more vibrant and prosperous. The reforms have had a very positive impact on the entrepreneurial environment; unemployment is low, and growth is reasonably rapid. Most commentators today recognize this situation.
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Citation: Sautet, Frederic. "Why Have Kiwis Not Become Tigers? Reforms, Entrepreneurship and Economic Performance in New Zealand," The Independent Review 10, no. 4 (March 2006): 573-597.