- Elgar original reference
Edited by Léo-Paul Dana
Chapter 29: New Zealand Perspectives of International Entrepreneurship
Howard H. Frederick, John Thompson and Peter J. Mellalieu World’s most isolated country Slightly bigger than the United Kingdom, New Zealand is the world’s most isolated country. Its closest eastern neighbour is Chile, more than 6000 miles away. To the west, it takes more than three hours’ ﬂight to reach Sydney or Melbourne. To the north one travels through 45 degrees of the earth’s circumference to reach Siberia. New Zealand is the closest warm airport to Antarctica, eight hours to the south. On the face of it, you would imagine that New Zealand, with its 2.4 million adults, could hardly survive on the domestic market alone and that its entrepreneurs would immediate become globalized. New Zealand has a competitive and open microeconomic environment that is reasonably free of distortion, but its relative income has declined over much of the last 50 years. Its real per capita income fell, from among the highest in the world in the 1950s to just under the OECD average in 1970, to twentieth in the OECD by 1999. Although the New Zealand economy grew, other developed countries grew more rapidly. To build a vibrant economy and to retain OECD rank, New Zealand must quickly adapt to the changing international environment. It needs to be innovative in everything it does so that the disadvantages of size and distance from markets are more than compensated for by the diﬀerence it brings to products and processes. To earn ﬁrst-world incomes, the New Zealand economy needs to have...
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