Re:Why isn’t New Zealand richer and more productive?
by ThomPete on Friday April 18, 2014 @02:09PM
(#7610423)
I was saying that NZ sounds like the Nordic countries. With that I meant the way it's structured.
Re:Why isn’t New Zealand richer and more productive?
by CamperBob2 on Friday April 18, 2014 @04:34PM
(#7611166)
On the other hand, Norway, Sweden, and Finland are all above the line, meaning they have higher GDP per capita than predicted. The only nordic country below the line is Denmark, and they are barely below the line.
Oil revenues make such comparisons tricky at best. You would need to consider the hypothetical case of a New Zealand with lots of oil to sell, or a Norway without any.
Re:Why isn’t New Zealand richer and more productive?
by levosmetalo on Friday April 18, 2014 @06:01PM
(#7611565)
How exactly Sweden, Finland, Denmark and Iceland benefit anything from oil? It's only Norway that has significant oil reserves, and all other have none.
Re:Why isn’t New Zealand richer and more productive?
by CamperBob2 on Friday April 18, 2014 @08:42PM
(#7612063)
Well, there's Ikea, Nokia, and... hmm, I'm not sure what economic factors are important in Denmark and Iceland. But I'll bet they're very different than those prevailing in New Zealand, whatever they are.
Re:Why isn’t New Zealand richer and more productive?
by hackerboos on Saturday April 19, 2014 @07:18AM
(#7613170)
Being European Union members certainly helps.
The point of the post is that NZL has 20% below OECD average GDP per capita, when it would be predicted for them to be 20% above.
The key figure is Figure 3 from http://www.productivity.govt.nz/sites/default/files/internat...
In that, you can see NZL at the far bottom right.
On the other hand, Norway, Sweden, and Finland are all above the line, meaning they have higher GDP per capita than predicted. The only nordic country below the line is Denmark, and they are barely below the line.
So, you are saying that the nordic countries are similar, but the very paper this blog post is based on shows they are not at all economically similar.