A century of financial crises in New Zealand
Factors such as domestic imbalances, external debts and currency mismatches amplified the more recent financial crises experienced in New Zealand, according to new research published by the country's central bank.
The paper, 'Global shocks, economic growth and financial crises - 120 years of New Zealand experience', analyses economic history to discern how well models in the international literature explain domestic events in that period.
The authors find the historical evidence backs the theory
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