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New Zealanders often face calls for an Australian-style compulsory superannuation scheme that would expand Kiwisaver by making it compulsory. This is a multi-faceted issue and is worth reflecting on, particularly the political economy aspect. Read more
I am in Prague attending the general meeting of the Mont Pelerin Society, a network of distinguished liberal academics and intellectuals. One of the best speeches at the conference, however, was delivered by a businessman with no academic affiliation – and contained an implicit warning to countries like New Zealand. Read more
There is a great myth that New Zealand is open for business and is a very easy place for anyone to invest. Little could be further from the truth – according to the OECD, New Zealand is actually performing very poorly compared to other countries in the race to attract overseas capital. Read more
Last week, I attended an annual public policy conference organised by the Australian think tank The Centre for Independent Studies on topics that ranged from foreign affairs to global economics. However, one of the sessions – traditionally reserved for the latest developments in science and engineering – was most humbling, particularly for the economists attending. Read more
Key points As measured by the OECD's FDI Regulatory Restrictiveness Index and analysed by The New Zealand Initiative: New Zealand has the sixth most restrictive FDI regime in the world New Zealand has the most restrictive FDI regime in manufacturing New Zealand runs the third-most restrictive FDI regime in restaurants and hotels Almost all of New Zealand's restrictiveness comes from screening processes - bureaucrats and ministers assessing how 'good' an investment is going to be for New Zealand, despite their poor incentives and lack of commercial knowledge. Of the 55 countries the OECD measured for FDI restrictiveness, 35 do not even have screening tests In addition: The 'sensitive land' and 25% ownership clauses in the Overseas Investment Act catch virtually any reasonably sized direct overseas investment Over the past 15 years, many other nations have substantially liberalised their overseas investment regimes, leaving New Zealand in a less competitive position to attract FDI Since 1993, the amount of FDI New Zealand attracts has trended down by 2% per decade, although the relationship is suggestive rather than robust at this point All New Zealanders can be expected to bear the cost of these foreign investment barriers through lower property values, a higher cost of capital, and weaker economic growth. Read more
New Zealand operates one of the most restrictive foreign investment regimes in the developed world, missing out on much needed investment, says a new Research Note from The New Zealand Initiative. In Verboten! Read more
Economics students generally learn how to deal with recessions in their first semester. To cushion the economy in a downturn and speed up the recovery, students are taught to cut interest rates and provide fiscal stimulus. Read more
Global food security is an increasing challenge. A growing middle class in developing countries are demanding more protein. Read more
In the cult TV comedy Arrested Development, a character called Tobias Funke starts a folk band called “Dr Tobias Funke’s 100% good-time family band solution.” He and his family travel to medical conferences singing folk tunes persuading people to buy a lifestyle drug produced by a big pharma called Teamocil. Unfortunately, the sense of wellness in relationships created by Teamocil turns out to be the first sign of complete pituitary shutdown. Read more
Few things in politics look more certain than a change of government after the next Australian election in 2013. The Gillard Labor government is polling abysmally and plagued by constant leadership quarrels. Read more