In 2007 the New Zealand government in principle adopted the implementation of a cap and trade emissions trading scheme (ETS) in the energy sector from 2010. The objective of this paper is to develop a risk-focused performance management system (PMS) planning framework for organisations...

This paper is based on the early stages of an international collaborative project investigating the structural changes of the confectionery sectors in Finland and the U.K. over the past two decades. An institutional perspective is used to extend conventional understandings of industries via the...

Chris Hunt presented Paying for Urban Water Services: Some Insights from Across the Ditch at an ISCR in September 2007

This study is motivated by the apparent reluctance of Australian urban water entities to adopt the user pays pricing formula despite strong encouragement by Australian Governments to do so. Elements of contingency theory political cost theory and transaction cost economics are employed in...

This article examines the concept of financial system efficiency in the New Zealand context. The primary function of the financial system is to facilitate the allocation of society’s scarce resources, both across the economic system and over time, in an environment of inherent uncertainty. If...

Aggregate debt of the New Zealand household sector increased from 110 percent of household incomes in 2000 to a peak of 175 percent in 2008, and currently stands at 165 percent. The increase was large and historically unprecedented, but not exceptional compared to other countries' experience...

This article takes a look back at the last financial cycle that occurred over the previous decade – a cycle that contributed to one of the longest periods of uninterrupted economic growth in New Zealand for the past 60 years. It conducts a counterfactual exercise that maps the Reserve Bank’s...

High and rapidly rising levels of household debt can be risky. A high level of debt increases the sensitivity of households to any shock to their income or balance sheet. And during periods of financial stress, highly indebted households tend to cut their spending more than their less- indebted...

This article describes New Zealand’s capital markets, and the role they play in the functioning of financial markets and the real economy. It describes the instruments and players involved, and analyses a unique dataset to provide some detail on the size of both the bond and equity markets,...

This article examines ‘systemic’ banking crises in New Zealand. While there are examples of individual institutional failures in New Zealand’s early colonial development for example, there are only two episodes that have involved a significant erosion of banking system capital – our...