International capital flows, external debt, and New Zealand financial stability

Michael Reddell, Ian Woolford and Sean Comber
Additional contact information
Sean Comber: Reserve Bank of New Zealand

Reserve Bank of New Zealand Bulletin, 2001, vol. 64, No 4

Abstract: New Zealand is unusually dependent on foreign capital. Many of these substantial external liabilities are denominated in foreign currency, yet it is often correctly noted that we are not very exposed to the impact of changes in the exchange rate on the value of net external liabilities. This article goes beyond the aggregated data to further our understanding of the capital flows into and out of New Zealand, and to try to get a little closer to understanding who is taking the foreign exchange risks in these substantial cross-border flows. We then extend the analysis to examine potential points of vulnerability for the New Zealand financial system.

Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.rbnz.govt.nz/-/media/ReserveBank/Files/ ... ordReddellComber.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbbul:december2001:1

Access Statistics for this article

More articles in Reserve Bank of New Zealand Bulletin from Reserve Bank of New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Reserve Bank of New Zealand Knowledge Centre ().