Dylan Matthews says yes. He cites their mixed-member proportional representation, their unicameral legislature, and monarchy. He left out the biggest advantage of New Zealand government — not very much federalism! Admittedly, more populous countries cannot achieve that same outcome with equal ease.
I also would make a case for preferring the earlier New Zealand Westminster system to proportional representation. What is really the advantage of giving those small parties — not all of which have a fully responsible sense of governing — leverage over their pet issues? The process of coalition formation decreases accountability and blurs what elections are really about. PR makes more sense in fractious or ethnically split countries, where various groups require a sense of representation. New Zealand has long had separate arrangements for special Maori representation, and in any case Kiwi PR has not evolved to be primarily about giving Maori added voice (the ostensibly “Maori party” holds only two seats). To the extent such additional voice is desirable, it can best be done other ways.