As New Zealand’s Minister of finance from 1990-1993, Ruth Richardson acted on radical ideas in order to transform her country into a world-wide example of the benefits that a free-market economy enjoys. She begins her lecture by stating that the idea itself is not what makes a thought radical, it is the action and implementation of such thought that makes such idea far-reaching. Throughout this conference, Richardson shares the recipe for a good economy, focuses on the transformation that New Zealand went through and the fundamental concepts that drove the reforms in her country: Coherence, transparency and accountability. Furthermore, she shares the positive results from the reforms, which present New Zealand as one of the most competitive nations in the world with a 20 percent economic growth since 1991, a 15 percent job increase and a 30 percent export increase, among other aspects.
Ruth Richardson
Ruth Richardson was New Zealand's Minister of Finance during the period of 1990 to 1993. She conducted the New Zealand's second wave of reforms, after the first one, that was directed by Roger Douglas in the mid 1980's. Richardson got her Law degree with Honours from Canterbury University. She's now the principal of Ruth Richardson [NZ] Ltd., a company that offers international consultancy and corporate governance services.
Auditorio Juan Bautista Gutiérrez Universidad Francisco Marroquín Guatemala, June 19, 1997
Digitization made by New Media - UFM. Guatemala, June 1997 Index: Inés Zúñiga; synopsis: Sebastian del Buey; synopsis reviser: Daphne Ortiz; publication: Pedro David España
This work is licensed under a Creative Commons 3.0 License Este trabajo ha sido registrado con una licencia Creative Commons 3.0
Content
Initial credits
Presentation of Ruth Richardson
Introduction
¿Are these ideas radical?
About New Zealand
The definition of New Zealand
The Reform
The international perspective
The tide of ideas
The vision goes beyond the material ambitions
The recipe for having a good economy
Discipline in monetary policy
Discipline in fiscal policy
Open and competitive markets
Tariffs
Tax policy
The human capital
A growing economy
The transformation in New Zealand
Strategic vision
Political will
High quality policies
Communication
Fundamental concepts
Coherence
Transparency
Accountability
Important elements of politics
Actions not words
The "big bang" reform
The results of the reform
Conclusion
Period of questions
Deregulation in the labor market
Could you please explaine more about monopolies
¿Can we apply liberalism in third world countries?
¿How long does it take to harmonize the different sectors?
¿What would you like us to take home?
End of lecture
Final credits
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Universidad Francisco Marroquín
6 Calle final, zona 10
Edificio de la Escuela de Negocios
Oficina EN-103
Guatemala, Guatemala 01010
Teléfono (+502) 2338-7700 ext. 7849
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