Title page
Contents
Abstract/Résumé 4
Introduction 6
Despite great strides, policy settings can be made more pro-competitive 7
Regulatory barriers are uneven in New Zealand 7
The competition policy framework has become more comprehensive 12
Using competition policy to offset the tyranny of size and distance 14
Bringing more competition to the retail, dairy and financial sectors 15
Making competition work in network sectors: transport, utilities and telecoms 20
Adapting the regulatory framework to new challenges 26
Giving more power and a stronger mandate to the Commerce Commission 27
Fostering growth and competition in digital markets 30
Corruption is low in New Zealand but ethics rules could be further strengthened 32
Findings and recommendations 34
References 36
Table 1. Past OECD recommendations on market contestability and actions taken 9
Table 2. Number of daily flights by airlines on medium-large domestic routes and Trans-Tasman 22
Table 3. Past OECD recommendations on antitrust enforcement and actions taken 27
Figure 1. Economy-wide PMR indicators, breakdown by major components, 2018 8
Figure 2. The regulatory landscape in New Zealand displays a mixed picture 8
Figure 3. Business entry and exit rates are high in international comparison 9
Figure 4. Main factors that make it difficult for firms to effectively bid for government contracts 10
Figure 5. The inward FDI stock is small, especially for a small open economy 11
Figure 6. Large New Zealand banks are very profitable 19
Figure 7. Banks make a significant margin on deposits 20
Figure 8. Illustrative comparison between standard and low-use plans before the phase-out 25
Figure 9. New Zealand is one of the leaders in fibre broadband but mobile data usage remains low 26
Figure 10. Corruption is low in New Zealand 33
Figure 11. New Zealand actively cooperates against worldwide tax evasion and money laundering 33