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Changes in New Zealand’s Business Insolvency Rates after the GFC

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dc.contributor.author Hall, Viv
dc.contributor.author McDermott, John
dc.date.accessioned 2019-08-15T01:47:00Z
dc.date.accessioned 2022-07-12T02:31:04Z
dc.date.available 2019-08-15T01:47:00Z
dc.date.available 2022-07-12T02:31:04Z
dc.date.copyright 2019
dc.date.issued 2019
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/20970
dc.description.abstract We examine the question of whether the rate of business insolvencies in New Zealand is related to overall macroeconomic conditions. In particular, our interest is in whether the rate of business insolvencies changed in the wake of the Global Financial Crisis (GFC). We find that there was a large increase in insolvencies in New Zealand following the onset of the GFC in 2008. We also find that the timing of the change did not occur uniformly over the country but occurred at different times in four key regional centres. Sharply rising relative costs were the most important macroeconomic factor influencing corporate insolvencies in New Zealand, Auckland, Waikato and Wellington, but have been immaterial in determining New Zealand’s total personal insolvencies. It is employment growth and house price inflation that have been significant in explaining total personal insolvencies. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries SEF Working Paper; 07/2019 en_NZ
dc.subject Bankruptcy en_NZ
dc.subject Business cycles en_NZ
dc.subject Structural breaks en_NZ
dc.subject New Zealand en_NZ
dc.subject Global Financial Crisis en_NZ
dc.title Changes in New Zealand’s Business Insolvency Rates after the GFC en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Economics and Finance en_NZ
vuwschema.subject.anzsrcfor 140207 Financial Economics en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 380107 Financial economics en_NZ
dc.rights.rightsholder http://www.victoria.ac.nz/sef/research/sef-working-papers en_NZ

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