©1998 International Monetary Fund

Abstract

©1998 International Monetary Fund

Title Page

©1998 International Monetary Fund

January 1998

IMF Staff Country Report No. 98/3

New Zealand: Selected Issues and Statistical Tables

This Selected Issues and Statistical Tables report on New Zealand was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of New Zealand or the Executive Board of the IMF.

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Frontmatter Page

INTERNATIONAL MONETARY FUND

NEW ZEALAND

Selected Issues

Prepared by Tim Callen, Michael Sarel, and Mark Stone (APD)

Approved by the Asia and Pacific Department

October 27, 1997

Contents

  • I. Saving Trends and Issues

    • A. Introduction

    • B. Saving and Investment Trends

    • C. Explaining Household Saving

    • D. Saving Outlook

    • E. Conclusions and Policy Implications

    • References

  • II. Pension Reform in New Zealand

    • Summary

    • A. Introduction and Conclusions

    • B. The Long-Term Aging Problem (and its Effects on the Current Superannuation Scheme)

    • C. Theory and Evidence on Privatizing Pension Schemes

    • D. The Proposed Scheme: Could It Solve the Problems?

    • E. Further Reforms

    • F. Tentative Lessons From New Zealand’s Reform Experience

    • References

  • Charts

  • I.1 National Saving, 1978-96

  • I.2 Components of Saving, 1987-96

  • I.3 Investment, 1978-96

  • I.4 Saving and Investment, 1987-96

  • I.5 Household Saving and Net Worth, 1976-97

  • I.6 Macroeconomic Developments, 1975-97

  • I.7 Structure of the Tax and Transfer Systems

  • I.8 Government Expenditure, 1970-96

  • I.9 Demographic Trends, 1975-96

  • I.10 Household Saving, 1975-96

  • Tables

  • I.1 Regression Results for Household Saving

  • II.1 Demographic Projections

  • II.2 Projected Expenditure on the Public Pension Scheme

  • II.3 The Proposed Private Scheme

  • II.4 Macroeconomic Effects of the Proposed Scheme

  • Appendices

  • II.1 Typical Problems with Public and Private Pension Schemes

  • II.2 The Existing New Zealand Superannuation System

  • II.3 International Experience with Privatizing Pension Schemes

New Zealand: Selected Issues and Statistical Tables
Author: International Monetary Fund