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.

PATTERNS OF EXCHANGE RATES AND CURRENT ACCOUNTS: THE EAST ASIAN WALTZ

2012 ◽  
Vol 57 (02) ◽  
pp. 1250009 ◽  
Author(s):  
ANDREW SHENG ◽  
KIAN TENG KWEK ◽  
CHO WAI CHO
Keyword(s):  
Financial Crisis ◽  
Exchange Rates ◽  
Global Financial Crisis ◽  
East Asian ◽  
Financial System ◽  
Asian Financial Crisis ◽  
Market System ◽  
Financial Crisis Of 2008 ◽  
The Global Financial Crisis

The Global Financial Crisis of 2008 and the Asian Financial Crisis of 1997–1998 have a common trait, that is any shock to the financial system or market system can cause the system or market to flip from one state to another state.

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>

Money supply, exchange rates and office market dynamics: comparative evidence from the UK and Germany

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alain Coën ◽  
Benoit Lefebvre
Keyword(s):  
United Kingdom ◽  
Financial Crisis ◽  
Exchange Rates ◽  
Money Supply ◽  
Global Financial Crisis ◽  
Content Type ◽  
The United Kingdom ◽  
Office Markets ◽  
The Global Financial Crisis ◽  
The Impact

PurposeThe aim of this study is to shed light on the relative importance of money supply and exchange rates variations on office markets prices dynamics.Design/methodology/approachUsing a parsimonious real estate asset pricing model, the authors focus on the two biggest European office markets; namely the United Kingdom and Germany. The authors use a panel approach based on a robust econometric methodology (GMM with correction errors-in-variables). The authors take into account the variations of exchange rates and money supplies for the most important currencies.FindingsThe results highlight the impact of money supplies and exchange rates on office prices after the Global Financial Crisis. The authors report that the monetary policies in the UK and in Germany (Euro zone) have had significant influences in the real estate sector after the Global Financial Crisis. However, the authors identified significant differences between British and German office markets for the 2009–2019 period regarding the impact of money supply and exchange rates variations on the office prices dynamics.Practical implicationsThe results highlight the impact of money supplies and exchange rates on office prices after the Global Financial Crisis. The detailed and exclusive database (composed of the main office markets in the United Kingdom and in Germany) allows the authors to identify significant differences and opportunities for investors.Originality/valueThe authors use a parsimonious model and apply a panel approach based on a robust econometric methodology to analyse the impact of exchange rates and money supply variations on the office prices dynamics. The detailed and exclusive database (composed of the main office markets in the United Kingdom and in Germany) allows the authors to identify significant differences for investors.

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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