Regulatory Change in Australia and New Zealand Following the Global Financial Crisis

2015 ◽  
pp. 219-248
Author(s):  
C.A. Brown ◽  
K.T. Davis ◽  
D.G. Mayes
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Regulatory Change ◽  
The Global Financial Crisis

Regulatory change in Australia and New Zealand following the global financial crisis

2015 ◽  
Vol 7 (1) ◽  
pp. 8-28 ◽  
Author(s):  
Christine Ann Brown ◽  
Kevin Davis ◽  
David Mayes
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Regulatory Change ◽  
Content Type ◽  
Regulatory Changes ◽  
Global Standards ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – The purpose of this study is to explain rationale for regulatory change in Australia and New Zealand after the global financial crisis. Design/methodology/approach – Outline regulatory changes and relate to crisis experience and regulatory shortcomings exposed. Findings – Regulatory change was driven primarily by need, as capital importing nations, to comply with emerging global standards, and the different approaches in both nations are also related to domestic political considerations. Research limitations/implications – The process of regulatory change in response to the crisis is ongoing. Practical implications – A number of areas for further improvement in financial regulation are identified. Social implications – Costs of poor regulation and financial crises are identified. Originality/value – A comparison of regulatory approaches in two countries dominated by the same four large banks helps understand the challenges of cross-border financial regulation cooperation.

The main determinants effecting international visitor arrivals in New Zealand

2016 ◽  
Vol 23 (5) ◽  
pp. 921-940 ◽  
Author(s):  
Azmat Gani ◽  
Michael D. Clemes
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Exchange Rates ◽  
Global Financial Crisis ◽  
Good Governance ◽  
Real Exchange Rates ◽  
Relative Prices ◽  
Per Capita ◽  
Main Determinants ◽  
The Global Financial Crisis

This study examines the main determinants of international visitor arrivals in New Zealand in light of New Zealand’s major earthquakes in 2010 and 2011 as well as the global financial crisis of 2007. Our results provide strong evidence that visitor origin country per capita incomes, relative prices, real exchange rates, the distance between New Zealand and its main visitor origin countries and New Zealand’s record of good governance are statistically significant determinants of visitor arrivals to New Zealand. Our findings also reveal a negative but statistically insignificant effect of the earthquakes of 2010 and 2011on visitor arrivals to New Zealand. Our findings do not provide any significant regressive effect of the global financial crisis on visitor arrivals to New Zealand.

scholarly journals Class in New Zealand

2016 ◽  
Vol 1 ◽  
pp. 71
Author(s):  
Patrick Ongley
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Class Relations ◽  
Full Understanding ◽  
Social Transformations ◽  
Class Society ◽  
Current State ◽  
Opportune Time ◽  
The Global Financial Crisis

In the wake of the global financial crisis and amidst a tide of concern about inequality, now is an opportune time to revisit the topic of class. It is conspicuously absent from most of the discourse surrounding the current state of capitalism and its iniquities, but it is critical to a full understanding of them. In New Zealand, we have always tended to shy away from talk of class, but like all capitalist societies this is a class society, and we are all connected to and divided from others by class relations. Class also connects our present to our past and future, playing key roles in the periodic economic and social transformations shaping our history. New Zealand has been through at least three such transitions, which have all involved significant shifts in class relations and class structures. At this current uncertain juncture in the aftermath of the global financial crisis, we may have the opportunity to forge another transformation.  

scholarly journals Strategising for Resilience

2021 ◽  
Author(s):  
◽  
Simon Collins
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Strategic Management ◽  
Dynamic Capabilities ◽  
Global Financial Crisis ◽  
Manufacturing Sector ◽  
Current Theory ◽  
Study Approach ◽  
Management Concepts ◽  
The Global Financial Crisis

<p>The term “resilience” is used to describe aspects of businesses that are able to withstand potentially destructive changes in the commercial environment in which they operate. Few studies have investigated the ability that some firms have not just to endure disturbance, but to buck market trends and improve, grow and capitalise on potentially destructive change. This thesis aims to elaborate our existing understanding by contributing empirical knowledge on resilient firms through the examination of the research questions: In the context of the New Zealand Manufacturing sector during the Global Financial Crisis, what contributes to resilience in firms? And, do dynamic capabilities play a role in the resilience of firms?  To address the identified gap in the literature, this research analysed the strategies of seventeen New Zealand manufacturing firms during the Global Financial Crisis utilising a qualitative, case study approach. Teece’s (2007) Sensing, Seizing and Transformation dynamic capabilities framework was used to analyse and categorise the firms’ actions. The findings confirm some, but also refute other, pre-existing assumptions and understandings regarding the resilience of firms that are offered by the prevailing literature.  This thesis contributes to the field of theory by offering evidence for five propositions that extend the existing resilience literature. These are: first, that the dynamic capabilities framework provides a useful means through which to examine the resilience of firms; second, resilient firms appear to have bundles of dynamic capabilities that provide resilience when present; third, certain capabilities appear to be necessary but not sufficient to create resilience; fourth, capabilities that enable firms to generate additional efficiency and margin appear to be among the most valuable in the creation of resilience, and fifth, capabilities that increase the ‘volume’ of knowledge, and improve the flow of, and access to, knowledge within a firm also appear to be among the most valuable for creating resilience.  This examination of the concept of resilience presents new perspectives on why some firms perform better during crises, and how advantage is created and maintained when the environment generates barriers to performance. The results progress resilience as an emerging concept in the strategic management literature in two ways: first, the addition of empirical evidence extends and elaborates current theory regarding what constitutes resilient action in firms; and second, the results highlight the strengths and weaknesses of applying a dynamic capabilities framework to explore strategic management concepts.</p>

Strategising for Resilience

2021 ◽  
Author(s):  
◽  
Simon Collins
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Strategic Management ◽  
Dynamic Capabilities ◽  
Global Financial Crisis ◽  
Manufacturing Sector ◽  
Current Theory ◽  
Study Approach ◽  
Management Concepts ◽  
The Global Financial Crisis

<p>The term “resilience” is used to describe aspects of businesses that are able to withstand potentially destructive changes in the commercial environment in which they operate. Few studies have investigated the ability that some firms have not just to endure disturbance, but to buck market trends and improve, grow and capitalise on potentially destructive change. This thesis aims to elaborate our existing understanding by contributing empirical knowledge on resilient firms through the examination of the research questions: In the context of the New Zealand Manufacturing sector during the Global Financial Crisis, what contributes to resilience in firms? And, do dynamic capabilities play a role in the resilience of firms?  To address the identified gap in the literature, this research analysed the strategies of seventeen New Zealand manufacturing firms during the Global Financial Crisis utilising a qualitative, case study approach. Teece’s (2007) Sensing, Seizing and Transformation dynamic capabilities framework was used to analyse and categorise the firms’ actions. The findings confirm some, but also refute other, pre-existing assumptions and understandings regarding the resilience of firms that are offered by the prevailing literature.  This thesis contributes to the field of theory by offering evidence for five propositions that extend the existing resilience literature. These are: first, that the dynamic capabilities framework provides a useful means through which to examine the resilience of firms; second, resilient firms appear to have bundles of dynamic capabilities that provide resilience when present; third, certain capabilities appear to be necessary but not sufficient to create resilience; fourth, capabilities that enable firms to generate additional efficiency and margin appear to be among the most valuable in the creation of resilience, and fifth, capabilities that increase the ‘volume’ of knowledge, and improve the flow of, and access to, knowledge within a firm also appear to be among the most valuable for creating resilience.  This examination of the concept of resilience presents new perspectives on why some firms perform better during crises, and how advantage is created and maintained when the environment generates barriers to performance. The results progress resilience as an emerging concept in the strategic management literature in two ways: first, the addition of empirical evidence extends and elaborates current theory regarding what constitutes resilient action in firms; and second, the results highlight the strengths and weaknesses of applying a dynamic capabilities framework to explore strategic management concepts.</p>

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