IDEAS home Printed from https://ideas.repec.org/p/nzt/nztwps/02-12.html
   My bibliography  Save this paper

Institutions, Social Norms and Well-being

Author

Listed:
  • Murray Petrie

Abstract

This paper discusses the intrinsic and instrumental value of governance and social norms to the well being of New Zealanders. The interaction between informal social norms and formal institutions is also discussed. An attempt is made to identify the channels and precise mechanisms through which governance and social norms respectively may impact on well-being. Empirical evidence on these effects is cited, and the relevance of the evidence to New Zealand is assessed. A range of suggestions is then presented for strengthening the governance of public institutions in New Zealand, focusing on improvements to transparency, accountability and integrity within existing constitutional arrangements. Finally, some tentative remarks are made on the potential role of government in influencing the evolution of social norms, and managing tensions between conflicting norms in New Zealand.

Suggested Citation

  • Murray Petrie, 2002. "Institutions, Social Norms and Well-being," Treasury Working Paper Series 02/12, New Zealand Treasury.
    • Handle: RePEc:nzt:nztwps:02/12
    as

    Download full text from publisher

    File URL: https://treasury.govt.nz/sites/default/files/2007-09/twp02-12.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Governance matters," Policy Research Working Paper Series 2196, The World Bank.
    2. Stephen Knack & Philip Keefer, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 1251-1288.
    3. International Monetary Fund, 2000. "Barbados: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/158, International Monetary Fund.
    4. Ritzen, Jo & Easterly, William & Woolcock, Michael, 2000. "On"good"politicians and"bad"policies - social cohesion, institutions, and growth," Policy Research Working Paper Series 2448, The World Bank.
    5. Mr. Francis Fukuyama, 2000. "Social Capital and Civil Society," IMF Working Papers 2000/074, International Monetary Fund.
    6. Axelrod, Robert, 1986. "An Evolutionary Approach to Norms," American Political Science Review, Cambridge University Press, vol. 80(4), pages 1095-1111, December.
    7. Rodrik, Dani, 1999. "Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses," Journal of Economic Growth, Springer, vol. 4(4), pages 385-412, December.
    8. Professor Lars E O Svensson, 2001. "Independent review of the operation of monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, March.
    9. International Monetary Fund, 2000. "Portugal: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/152, International Monetary Fund.
    10. International Monetary Fund, 2000. "Italy: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/071, International Monetary Fund.
    11. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-338, May.
    12. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    13. Charles F. Manski, 2000. "Economic Analysis of Social Interactions," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 115-136, Summer.
    14. Elinor Ostrom, 2000. "Collective Action and the Evolution of Social Norms," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 137-158, Summer.
    15. Easterly, William, 2001. "Can Institutions Resolve Ethnic Conflict?," Economic Development and Cultural Change, University of Chicago Press, vol. 49(4), pages 687-706, July.
    16. International Monetary Fund, 2000. "Luxembourg: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/065, International Monetary Fund.
    17. Easterly, William, 2001. "The Middle Class Consensus and Economic Development," Journal of Economic Growth, Springer, vol. 6(4), pages 317-335, December.
    18. International Monetary Fund, 2000. "Sweden: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/118, International Monetary Fund.
    19. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(1), pages 83-116.
    20. Johnson, Simon & Kaufmann, Daniel & Zoido-Lobaton, Pablo, 1998. "Regulatory Discretion and the Unofficial Economy," American Economic Review, American Economic Association, vol. 88(2), pages 387-392, May.
    21. William Easterly & Jozef Ritzen & Michael Woolcock, 2006. "Social Cohesion, Institutions, And Growth," Economics and Politics, Wiley Blackwell, vol. 18(2), pages 103-120, July.
    22. Collier, Paul & Hoeffler, Anke, 1998. "On Economic Causes of Civil War," Oxford Economic Papers, Oxford University Press, vol. 50(4), pages 563-573, October.
    23. Coleman, James S, 1991. "Constructed Organization: First Principles," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 7(0), pages 7-23, Special I.
    24. The Treasury, 2001. "Towards an Inclusive Economy," Treasury Working Paper Series 01/15, New Zealand Treasury.
    25. Mr. Paolo Mauro, 1996. "The Effects of Corruption on Growth, Investment, and Government Expenditure," IMF Working Papers 1996/098, International Monetary Fund.
    26. Jonathan Gruber, 2000. "Is Making Divorce Easier Bad for Children? The Long Run Implications of Unilateral Divorce," NBER Working Papers 7968, National Bureau of Economic Research, Inc.
    27. International Monetary Fund, 2000. "Austria: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/095, International Monetary Fund.
    28. International Monetary Fund, 2000. "Japan: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/098, International Monetary Fund.
    29. Mr. Vito Tanzi & Mr. Hamid R Davoodi, 1997. "Corruption, Public Investment, and Growth," IMF Working Papers 1997/139, International Monetary Fund.
    30. International Monetary Fund, 2000. "New Zealand: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/138, International Monetary Fund.
    31. International Monetary Fund, 2000. "Canada: IMF Staff Country Report 00/017: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/017, International Monetary Fund.
    32. International Monetary Fund, 2000. "Spain: Staff Report for the 2000 Article IV Consultation," IMF Staff Country Reports 2000/151, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Constantinos Stephanou & Dimitri Vittas, 2007. "Public Debt Management and Debt Market Development in Cyprus: Evolution, Current Challenges and Policy Options," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 1(1), pages 49-80, June.
    2. Ciarán Michael Casey, 2014. "Averting Crisis? Commentary from the International Institutions on the Irish Property Sector in the Years Before the Crash," The Economic and Social Review, Economic and Social Studies, vol. 45(4), pages 537-557.
    3. George Kyriacou & Maria Papageorghiou, 2010. "Assessing the Equilibrium Exchange Rate of the Cyprus Pound at the time of Euro Adoption," Working Papers 2010-6, Central Bank of Cyprus.
    4. Giovanni P. Olivei, 2002. "Japan's approach to monetary policy," New England Economic Review, Federal Reserve Bank of Boston, issue Q 2, pages 39-43.
    5. Robert M. Stern, 2011. "Trade in Financial Services—Has the IMF been Involved Constructively?," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 5(1), pages 65-92, February.
    6. Ronald McKinnon & Gunther Schnabl, 2002. "Synchronized Business Cycles in East Asia: Fluctuations in the Yen/Dollar Exchange Rate and China’s Stabilizing Role," Working Papers 02010, Stanford University, Department of Economics.
    7. Dutton, Edward & Bakhiet, Salaheldin Farah & Ziada, Khaled Elsayed & Essa, Yossry Ahmed Sayed & Blahmar, Tahani Abdulrahman Muhammed, 2017. "A Negative Flynn Effect in Khartoum, the Sudanese capital," Intelligence, Elsevier, vol. 63(C), pages 51-55.
    8. Bosworth, Barry & Kollintzas, Tryphon, 2001. "Economic Growth in Greece: Past Performance and Future Prospects," CEPR Discussion Papers 2852, C.E.P.R. Discussion Papers.
    9. Homi Kharas & Brian Pinto & Sergei Ulatov, 2001. "An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 1-68.
    10. Zsolt Darvas, 2010. "The Impact of the Crisis on Budget Policy in Central and Eastern Europe," OECD Journal on Budgeting, OECD Publishing, vol. 10(1), pages 1-42.
    11. Alessio Fusco & Philippe Kerm & A. Alieva & L. Bellani & F. Etienne-Robert & A.-C. Guio & I. Kyzyma & K. Leduc & P. Liégeois & M.N.P. Alperin & A. Reinstadler & E. Sierminska & D. Sologon & P. Thill &, 2013. "GINI Country Report: Growing Inequalities and their Impacts in Luxembourg," GINI Country Reports luxembourg, AIAS, Amsterdam Institute for Advanced Labour Studies.
    12. Ronald McKinnon & Gunther Schnabl, 2003. "Synchronised Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate," The World Economy, Wiley Blackwell, vol. 26(8), pages 1067-1088, August.
    13. Thomas Farole & Andres Rodriguez-Pose & Michael Storper, 2007. "Social capital, rules, and institutions: A cross-country investigation," SciencePo Working papers Main hal-03461998, HAL.
    14. Marco Ferroni & Mercedes Mateo Díaz & J. Mark Payne, 2007. "Development under Conditions of Inequality and Distrust: An Exploration of the Role of Social Capital and Social Cohesion in Latin America," IDB Publications (Working Papers) 53818, Inter-American Development Bank.
    15. Fahad Khalid, 2019. "Literature Review on Social Cohesion and Economic Growth," International Journal of Science and Business, IJSAB International, vol. 3(4), pages 39-60.
    16. Kearney, Ide & McCoy, Daniel & Duffy, David & McMahon, Michael & Smyth, Diarmaid, 2000. "Assessing the Stance of Irish Fiscal Policy," Papers BP2001/1, Economic and Social Research Institute (ESRI).
    17. repec:spo:wpmain:info:hdl:2441/f0uohitsgqh8dhk980eal4i12 is not listed on IDEAS
    18. Bienvenido Ortega & Antonio Casquero & Jesús Sanjuán, 2016. "Corruption and Convergence in Human Development: Evidence from 69 Countries During 1990–2012," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 127(2), pages 691-719, June.
    19. Mr. Driton Qehaja, 2012. "Fiscal Policy Response to External Crises the Case of Moldova 1998-2010," IMF Working Papers 2012/082, International Monetary Fund.
    20. Angelo Antoci & Fabio Sabatini & Mauro Sodini, 2009. "The fragility of social capital," Department of Economics University of Siena 551, Department of Economics, University of Siena.
    21. Alvarez-Diaz, Marcos & Caballero Miguez, Gonzalo, 2008. "The quality of institutions: A genetic programming approach," Economic Modelling, Elsevier, vol. 25(1), pages 161-169, January.

    More about this item

    Keywords

    Norms; governance; well-being; public institutions; transparency;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nzt:nztwps:02/12. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CSS Web and Publishing, The Treasury (email available below). General contact details of provider: https://edirc.repec.org/data/tregvnz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.