Journal of Economic Growth Volume 4, No 1, Winter 1989-90, p.14-18.

Keywords: Growth & Innovation; Macroeconomics & Money;

The economy of New Zealand first .surged forward under the Labour government, with registered unemployment falling from around 64 thousand at the time the new government took office in July 1984 to about 50 thousand a year later. As the restructuring took effect and firms dependent upon subsidies closed down, unemployment began to increase. By the end of 1989 it was close to 150 thousand with little prospect of significant reductions.