RBNZ chief economist Paul Conway sees dominance of the ‘traditional drivers of growth’ in the New Zealand economy coming to an end

01-31 来源: interest rate.co.nz

内容来源: interest rate.co.nz,一点编辑于 2025-01-31提示:新闻观点不代表本网立场。

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New Zealand’s long-run economic growth has been about expanding the population, mainly through migration, and rising house prices, Reserve Bank chief economist Paul Conway says.

In response to questions after giving an online speech titled Beyond the cycle: Growth and interest rates in the long run, Conway said those ‘traditional drivers’ are ‘not optimal’ from a per capita perspective.

“You know, we are very good at thinking from a per capita perspective when it comes to medals in the Olympics. We are less good at thinking in per capita terms when it comes to our economy.

“But I would say those traditional drivers of growth in the New Zealand economy from a per capita perspective haven’t delivered as well as ideally they would and I do think the period when they have been dominant is coming to an end.”

Conway referred back to a speech he gave in 2022 in which he suggested the tide may have turned against housing being a one way bet for Kiwis.

 

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