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Saving Rates and Portfolio Allocation in New Zealand Joint Working Group Government Officials and ISI

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  • Joint Working Group, Government officials and ISI

Abstract

This paper explores readily available data up to 1996 on New Zealand’s saving rates and the level of savings, and examines the portfolio allocation of savings. It finds that New Zealanders’ household saving rates are low, whilst above average public saving rates leave national saving rates closer to OECD average levels. Whilst New Zealand has lower net wealth per household than many of its OECD counterparts, a good portion of this is associated with differences in per capita incomes. New Zealanders hold a higher proportion of their savings in housing than people in many other countries, as would be expected given our lower per capita incomes. Even given this, New Zealand has above average home ownership rates and housing space consumption is high by world standards. Historically, the returns on different domestic asset classes suggest that the risk adjusted real return on housing has been relatively high.

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  • Joint Working Group, Government officials and ISI, 1999. "Saving Rates and Portfolio Allocation in New Zealand Joint Working Group Government Officials and ISI," Treasury Working Paper Series 99/09, New Zealand Treasury.
    • Handle: RePEc:nzt:nztwps:99/09
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    File URL: https://treasury.govt.nz/sites/default/files/2018-01/twp99-09.pdf
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    References listed on IDEAS

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    1. Rainer Winkelmann, 1998. "The economic benefits of schooling in New Zealand: Comment and update," New Zealand Economic Papers, Taylor & Francis Journals, vol. 32(2), pages 187-195.
    2. Andrew Dean & Martine Durand & John Fallon & Peter Hoeller, 1989. "Saving Trends and Behaviour in OECD Countries," OECD Economics Department Working Papers 67, OECD Publishing.
    3. James M. Poterba, 1994. "International Comparisons of Household Saving," NBER Books, National Bureau of Economic Research, Inc, number pote94-1, July.
    4. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
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