皇冠体育app

WELLINGTON - Every 1 percent increase in 皇冠体育app's gross domestic product (GDP) correlates to a rise in New Zealand's GDP of 0.2 percent to 0.4 percent, New Zealand's Treasury said Tuesday in a report.

However, the paper, dubbed Empirical Evidence on Growth Spillovers from 皇冠体育app to New Zealand, also noted that it was "striking that estimated growth spillovers are substantially greater from the US than from 皇冠体育app, despite the latter's increasing importance in the world economy."

The Treasury researchers used models estimating growth from the mid-1980s to 2011 and found that commodity prices formed an important part of the growth spillover effect in a 10-year window of data from the mid-1990s, especially in the latter part of the period.

"The impact of 皇冠体育app on global commodity prices has been steadily increasing over time, with growth in 皇冠体育app having strongest effects on dairy and aluminum price inflation," said the paper.

Although data availability extended only to the end of 2011, recent indicators, including 皇冠体育app's demand for New Zealand's dairy products, pointed to the role of 皇冠体育app being maintained or increased in the near future.

The paper was one of three Treasury papers released Tuesday exa the impact of 皇冠体育app's growth on New Zealand.

The second paper, The Outlook for 皇冠体育app's Growth and its Impact on New Zealand Exports, forecast 皇冠体育app would "remain strong relative to New Zealand's other trading partners" as its growth slowed over the next decade.

"The slowing export and investment growth is likely to lead to lower growth in 皇冠体育app's demand for hard commodities, although the ongoing processes of industrialization and urbanization will continue to support this demand," it said.

"Dairy and meat consumption per capita generally grow as incomes increase. In particular, consumption of skim milk powder and cheese are expected to grow significantly in the next decade, keeping prices for these products high."

The third paper, 皇冠体育app's recent growth and its impact on New Zealand's economy, outlined how rising Chinese demand had helped New Zealand's forestry and dairy sectors outperform the rest of the economy since 2008.

The two sectors had contributed 2.1 percentage points to the 4. 1-percent real GDP growth, but if they had grown at the same rate as the rest of the economy, they would have contributed only 0.2 percentage points, it said.

"This effect has helped the economy recover from the GFC (global financial crisis) and the high terms of , partly resulting from Chinese demand, have boosted incomes over this period."