The financial crisis in New Zealand: an inconvenient truth

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aut.researcherChiang, Christina Kee Hua
dc.contributor.authorChiang, CKH
dc.contributor.authorPrescott, S
dc.date.accessioned2011-07-12T04:01:29Z
dc.date.available2011-07-12T04:01:29Z
dc.date.copyright2010-11-26
dc.date.issued2010-11-26
dc.description.abstractThe financial crisis has been the topic of recent financial debate and the motivation behind initiatives to tighten the regulations governing the financial sector. In New Zealand the financial crisis reached its height in 2006. This paper traces the development of the financial sector in New Zealand from the early 1970’s through to the financial collapse of 2006-2009 and the aftermath of regulatory reviews, finger-pointing and corrective measures that dominated the last three years to the present day. The paper argues that the financial crisis is the product of an inconvenient truth that has been legitimised over the past century, encouraged poor corporate governance practices, and that the knee-jerk reaction to correcting the regulatory framework is too-little too-late.
dc.identifier.citationThe 2010 Auckland Region Accounting Conference, Manukau Institute of Technology, Auckland. 26 November 2010.
dc.identifier.urihttps://hdl.handle.net/10292/1425
dc.publisherMIT
dc.relation.urihttp://w3.manukau.ac.nz/aaac/ARA_2010_papers/Chiang_Prescott.pdf
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in (see Citation). The original publication is available at (see Publisher's Version)
dc.rights.accessrightsOpenAccess
dc.subjectFinancial crisis
dc.subjectNew Zealand
dc.subjectCorporate governance
dc.titleThe financial crisis in New Zealand: an inconvenient truth
dc.typeConference Contribution
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Business & Law
pubs.organisational-data/AUT/Business & Law/Accounting
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