Coping with global financial and economic stresses

Release date
Vol. 72. No. 1. March 2009
Dr Alan Bollard; Tim Ng
This article reproduces the paper for a speech given by Governor Alan Bollard on 30 January 2009 to the Canterbury Employers’ Chamber of Commerce, Christchurch, New Zealand. It discusses the causes and consequences of the credit boom this decade in developed Western economies, the policy actions taken in response in New Zealand and offshore, and the road ahead.