scholarly journals New Zealand Reserve Bank Reform

2019 ◽  
Vol 15 (2) ◽  
Author(s):  
Ben Thirkell-White
Keyword(s):  
Decision Making ◽  
New Zealand ◽  
Financial Crisis ◽  
Inflation Targeting ◽  
Global Financial Crisis ◽  
Central Banking ◽  
Reserve Bank ◽  
Bank Reform ◽  
Committee Decision Making ◽  
The Global Financial Crisis

The inflation-targeting approach to central banking was invented in New Zealand, before becoming the global standard during the 1990s. Despite this popularity, significant reforms were introduced to the Reserve Bank Act in late 2018 as part of a two-stage review, notably an expanded mandate and a committee decision-making structure. This article reviews the changes in the light of global and domestic challenges to central banking emerging since the global financial crisis.

The Impact of the Global Financial Crisis on Central Banking

2019 ◽  
pp. 170-192
Author(s):  
Alex Cukierman
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Financial Stability ◽  
Inflation Targeting ◽  
Global Financial Crisis ◽  
The United States ◽  
Central Banking ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Regulatory Reforms

This chapter describes the impacts of the global financial crisis on monetary policy and institutions. It argues that during the crisis, financial stability took precedence over traditional inflation targeting and discusses the emergence of unconventional policy instruments such as quantitative easing (QE), forex market interventions, negative interest rates, and forward guidance. It describes the interaction between the zero lower bound (ZLB) and QE, and proposals, such as raising the inflation target, to alleviate the ZLB constraint. The chapter discusses the consequences of the relative passivity of fiscal policies, “helicopter money,” and 100 percent reserve requirement. The crisis triggered regulatory reforms in which central banks’ objectives were expanded to encompass macroprudential regulation. The chapter evaluates recent regulatory reforms in the United States, the euro area, and the United Kingdom. It presents data on new net credit formation during the crisis and discusses implications for exit policies.

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 Innovative ways of thinking concerning economic governance after the global financial crisis

2019 ◽  
Vol 17 (3) ◽  
pp. 122-131 ◽  
Author(s):  
Csaba Lentner ◽  
Pál Péter Kolozsi
Keyword(s):  
Public Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Central Banking ◽  
Economic Governance ◽  
New Paradigm ◽  
Public Finances ◽  
The Global Financial Crisis ◽  
Innovative Approaches

The global financial crisis highlighted the limitations of the mainstream economic thinking. The post-crisis reflection has not resulted yet in any new paradigm, however, several new, still separate, innovative approaches appeared in the field of public finances and economic governance. The aim of the paper is to provide a structured presentation of these new innovative approaches, which can serve as a potential basis of a new way of thinking about economic and financial governance and the innovation of public finances. The paper reviews the relevant international literature published after the global financial crisis and, as a result, presents the innovations, especially in respect of the role of the state, the renewal of central banking, the reassessment of the stability and geopolitical aspects of economic policy, the relevance of confidence and cooperation in public policy, the increasing role of the public sector concerning the sustainability of economic development and the renaissance of institutional economics. Based on these new approaches, the paper concludes that the smart, inclusive and sustainable, innovation-led growth requires the rethinking of the role, the functions, the objectives and the instruments of public policy and economic governance.

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.  

Investigating the Economic Vulnerability Factors of Emerging Markets After the Global Financial Crisis of 2008 With a Hybrid Multi-Criteria Decision-Making Approach

2018 ◽  
pp. 2114-2134
Author(s):  
Hasan Dinçer ◽  
Ümit Hacıoğlu
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Emerging Markets ◽  
Emerging Economies ◽  
Global Financial Crisis ◽  
Multi Criteria Decision Making ◽  
Vulnerability Factors ◽  
Economic Vulnerability ◽  
The Global Financial Crisis ◽  
The Relationship

The latest global financial crisis and its effects on emerging economies engaged researchers' attention to the relationship between economic vulnerability factors and financial crisis. Especially, infrastructure and growth-based factors directly impact on the economic vulnerability of emerging economies. In this study, it is aimed to investigate the economic vulnerability factors indicating the infrastructure and growth of emerging markets after the global financial crisis of 2008 with a hybrid multi criteria decision making approach. To clarify the relationship between the subjective causality structures of the real world problems DEMATEL and PROMETHEE techniques have been employed in the hybrid model. The results illustrate that (1) Nigeria has the highest degree of the economic vulnerability in each year after the global financial crisis, and (2) Mexico for 2009, Turkey for 2012, and Korea for 2015 have the lowest degree of exogenous economic and environmental shocks among the selected emerging markets.

Three rules for strategy at Deloitte Consulting

2015 ◽  
Vol 32 (1) ◽  
pp. 35-37
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Business Leaders ◽  
Content Type ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – A lot has been written of the consequences of the global financial crisis (GFC) in the late 2000s – who was to blame, who should have seen it coming, who didn’t see it coming and who claimed to have predicted it years later. Such speculation has contributed to what might be termed a “global crisis of confidence”, as all the established rules went out of the window. Business leaders didn’t know who to trust any more, and decision-making suddenly got a lot more difficult as a result. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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