Article

Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia

Details

Citation

Moll J, Ang SY, Kuruppu C & Adhikari P (2024) Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia. Journal of Public Budgeting, Accounting & Financial Management. https://doi.org/10.1108/jpbafm-11-2023-0197

Abstract
Purpose This paper examines the Australian and New Zealand government's wellbeing budget reforms. Design/methodology/approach The paper describes the development of wellbeing budgeting in Australia and New Zealand based on an analysis of official websites, documents and media sources. Findings Both governments have experienced challenges identifying measures representing different areas of wellbeing and recognising the connections between the measures applied. They have found it difficult to access reliable data. The development of wellbeing budgeting also raises questions about participation, data reporting, and presentation, which can impact its efficacy. Research limitations/implications The paper outlines practical challenges governments face in creating and using wellbeing budgets. It proposes a future research agenda to deepen our understanding of these issues and their social and economic implications. The scope of the study is limited to publicly available documents. Originality/value This is one of the few studies investigating wellbeing budgeting, which has evolved as an important tool for public governance. Therefore, the study's findings may draw substantial interest and attention from practitioners, researchers and government policymakers wanting to integrate these reforms into their governance machinery.

Keywords
Australia; NPM; Wellbeing budgeting; New Zealand Paper type General review

Notes
Output Status: Forthcoming/Available Online

Journal
Journal of Public Budgeting, Accounting & Financial Management

StatusEarly Online
Publication date online02/09/2024
Date accepted by journal05/07/2024
PublisherEmerald
ISSN1096-3367
eISSN1096-3367

People (1)

Dr Soon Yong Ang

Dr Soon Yong Ang

Lecturer in Accounting & Finance, Accounting & Finance