Labour and industry: A journal of the social and economic relations of work, Apr 11, 2018
According to the Australian Bureau of Statistics, the majority of Australians live within the gre... more According to the Australian Bureau of Statistics, the majority of Australians live within the greater, Melbourne, Sydney, Perth and Brisbane city boundaries (A.B.S 2017). All are port cities within...
This report is the result of a two phase investigation of motorcycle tourism in New Zealand. The ... more This report is the result of a two phase investigation of motorcycle tourism in New Zealand. The findings indicate that Germany, which contributes 4% of inbound tourists make up the majority of motorcycle rental customers in New Zealand. The discovery that German tourists make up a large proportion of rental customers makes Germany an ideal market for future development. However the New Zealand motorcycle rental suppliers are on the whole fragmented and uncoordinated.
Mentoring & Tutoring: Partnership in Learning, 1998
Abstract Over the past year an electronic small business mentor programme has undertaken a number... more Abstract Over the past year an electronic small business mentor programme has undertaken a number of projects. One such project has included a mentor based in New Zealand who has been mentoring a small business owner based in China. This project had its roots in an ...
Purpose The purpose of this paper is an archival study of images taken from cruise brochures avai... more Purpose The purpose of this paper is an archival study of images taken from cruise brochures available in New Zealand from the late twentieth century and early twenty-first century. The investigation adds to previous work undertaken on cruise ship posters and to the discussion surrounding how cruise lines motivated customers to purchase a cruise. Design/methodology/approach An archival approach was taken. The aim of the research is to explain how images used in the brochures have their origin in the mid-twentieth century concept of motivational research. In doing so, the work of Veblen (1899), Lazarsfeld (1935) and Packard (1957, 1959) are used as a foundation to illustrate how more recent commentators, such as Gad (2016) and Jamieson (1983), can be evoked. Findings Analysis of the images presented builds upon previous work done on cruise ship posters. Previous examinations used mid-twentieth century posters to show how the ship was slowly being eroded. The current work illustrates ...
DOAJ (DOAJ: Directory of Open Access Journals), Jul 1, 2013
Many would judge the privatisation program, a significant feature of the"New ZealandExperime... more Many would judge the privatisation program, a significant feature of the"New ZealandExperiment"of the 1980's and 1990's in which both Labour andNational governments adopted extreme right wing policies, a failure. In looking atthe privatisation of state assets we find they were, at least from an investors'perspective reasonably successful. Returns to investors who held a portfolio ofprivatised assets outperformed the NZ share market as a whole. An investmentstrategy of buying each privatisation, on the market on day one, yielded a returnof 7.99% representing an XHPY was 1.19% over a similar investment in theentire NZ market. There can be little doubt; the nine privatisations in this samplehad a considerable impact on the NZ stock market, following the listing ofTelecom in 1991 total privatised assets comprised 49% of the NZ total market, fortwenty years the capitalisation of the privatisation sample averaged 37% of theNZ total market. Analysis of government papers of the day reveals thegovernment's overall objective was increased efficiency, flowing from afundamental belief that governmentcouldn't and shouldn't run commercialbusinesses. In this they were successful, but at what cost?
ABSTRACT The early trapezitai (moneylenders) of Greece are credited with offering the first rudim... more ABSTRACT The early trapezitai (moneylenders) of Greece are credited with offering the first rudimentary payment system, in which a credit note given to a trader in one Greek port could be cashed with a moneylender in another, thus transferring funds (Lopez, 1979). Today, the provision of a payment system is recognised as essential to economic development (Mishkin, 2001) and can be used to define, along with financial intermediation, modern banks. Just as the ancient trapezitai revolutionised trade, the Bank of New Zealand, in heading up a consortium of New Zealand trading banks in the 1960s, revolutionised banking in this country when it established Databank Systems Ltd (Databank). Databank employed computer technology that was new to New Zealand to centralise the ledger accounts of all trading banks for the clearing of cheques. This paper details the history of Databank, describing its competitive co-operative system and the internal entrepreneurial activities of its founding general manager, Gordon Hogg, in process innovation. Ultimately, Databank achieved what was seen in the late 1960s as near impossible by international senior computer and bank management staff (Shaw, Shaw, Lockery & McCay, 2012).
Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Ze... more Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Zealand, with a primary thesis being that savings banks in New Zealand were intended to operate in a similar way to those in the UK. That is, to provide banking services to the working classes and supply revenue to a cash-strapped government. Savings banks were reasonably successful in meeting the needs of their depositors but provided little revenue to the government. This gives rise to a secondary thesis that, when the Government was presented with the opportunity to establish the Post Office Savings Bank (POSB), they did so with revenue in mind. Design/methodology/approach Contemporaneous scholarly discussion along with newspaper, primary sourced bank and government archives builds an interpretation of why savings banks were established in New Zealand. This interpretation is presented in the form of a narrative, which tells the story of the rise of private savings banks in New Zealand and their eventual stagnation when the POSB was introduced. Findings Savings banks in New Zealand were initiated by Governor Grey primarily to provide an alternative source of development funding. New Zealand savings banks, initially modelled on UK and New South Wales variants, also appear to have been designed to meet the needs of the working classes, with deposits limited to £50 a year and a maximum balance set of £100 in total. However, as the requirement to invest in Government debt was removed from their founding legislation, they mainly provided mortgages to their local communities. To some extent, this situation was remedied in 1867 when the POSB was established, as it was required to invest as directed by the Government. Originality/value The narrative highlights the importance of savings banks and the POSB to both the people and government of New Zealand. This research adds to the discussion surrounding the purpose of savings banks and details the contributions made by both savings banks and the POSB in colonial New Zealand. As previous publications were in the main commissioned by various savings banks, this work provides an independent academic analysis of the first savings banks in colonial New Zealand in the period from the signing of the Treaty of Waitangi in 1840 until New Zealand became a dominion in 1907.
New Zealanders once aspired to home ownership, for many that dream has now been shattered. This p... more New Zealanders once aspired to home ownership, for many that dream has now been shattered. This paper examines house price inflation in New Zealand, comparing the relationship between the Official Cash Rate and bank mortgage interest rates. We examine the degree of pass through, from the OCR to retail mortgage rates, in the period July 2001 until November 2012. A period of interest not only because of the 2008 Global Financial Crisis, but also pre-crisis the RBNZ was increasing the OCR to dampen a booming economy while post crisis they dramatically slashed the OCR in response to global economic outlook. We find there is little pass through from the OCR to retail mortgage rates, and it has limited effect on house price inflation and house affordability. We conclude the RBNZ does not have tools to deal with housing affordability and it may be better for it to be left to the market to self-correct.
This paper examines the development of savings banks in New Zealand from 1846 through to 1908 and... more This paper examines the development of savings banks in New Zealand from 1846 through to 1908 and the role they played in the new colony. As part of the British Empire, New Zealand savings banks were modelled on the savings bank initially established by Duncan in Dumfriesshire in 1810. The Scottish model, exemplified by the savings bank opened in Ruthwell by Revered Duncan in 1810, appears to be a starting point for the Australasian variants. Like the original, the intention of the colonial banks was to provide a place where ‘working poor’ could learn and benefit from the lessons of thrift. This was not so much for thrift’s sake but in order to secure the economic future of the working classes (Bowels, 1817).This study relies on archival newspapers, archival records maintained by savings banks, New Zealand yearbooks, relevant Acts of Parliament and Parliamentary debates recorded in such as the Hansard to document the establishment and management of savings banks in New Zealand. New Zealand’s savings banks including the Post Office Savings Bank are briefly compared to those previously established in the United Kingdom. The research identifies differences between New Zealand savings banks and the previously established UK savings banks. We also document tensions that existed between New Zealand savings banks and the POSB established in 1867. This research contributes to the discussion surrounding the purpose of savings banks in that it documents the contributions made by both savings banks and the POSB in a developing colony. It also identifies the important role of savings in a pre-welfare state economy.
International journal of economics and finance, 2013
Many would judge the privatisation program, a significant feature of the “New Zealand Experiment”... more Many would judge the privatisation program, a significant feature of the “New Zealand Experiment” of the 1980’s and 1990’s in which both Labour and National governments adopted extreme right wing policies, a failure. In looking at the privatisation of state assets we find they were, at least from an investors’ perspective reasonably successful. Returns to investors who held a portfolio of privatised assets outperformed the NZ share market as a whole. An investment strategy of buying each privatisation, on the market on day one, yielded a return of 7.99% representing an XHPY was 1.19% over a similar investment in the entire NZ market. There can be little doubt; the nine privatisations in this sample had a considerable impact on the NZ stock market, following the listing of Telecom in 1991 total privatised assets comprised 49% of the NZ total market, for twenty years the capitalisation of the privatisation sample averaged 37% of the NZ total market. Analysis of government papers of th...
Labour and industry: A journal of the social and economic relations of work, Apr 11, 2018
According to the Australian Bureau of Statistics, the majority of Australians live within the gre... more According to the Australian Bureau of Statistics, the majority of Australians live within the greater, Melbourne, Sydney, Perth and Brisbane city boundaries (A.B.S 2017). All are port cities within...
This report is the result of a two phase investigation of motorcycle tourism in New Zealand. The ... more This report is the result of a two phase investigation of motorcycle tourism in New Zealand. The findings indicate that Germany, which contributes 4% of inbound tourists make up the majority of motorcycle rental customers in New Zealand. The discovery that German tourists make up a large proportion of rental customers makes Germany an ideal market for future development. However the New Zealand motorcycle rental suppliers are on the whole fragmented and uncoordinated.
Mentoring & Tutoring: Partnership in Learning, 1998
Abstract Over the past year an electronic small business mentor programme has undertaken a number... more Abstract Over the past year an electronic small business mentor programme has undertaken a number of projects. One such project has included a mentor based in New Zealand who has been mentoring a small business owner based in China. This project had its roots in an ...
Purpose The purpose of this paper is an archival study of images taken from cruise brochures avai... more Purpose The purpose of this paper is an archival study of images taken from cruise brochures available in New Zealand from the late twentieth century and early twenty-first century. The investigation adds to previous work undertaken on cruise ship posters and to the discussion surrounding how cruise lines motivated customers to purchase a cruise. Design/methodology/approach An archival approach was taken. The aim of the research is to explain how images used in the brochures have their origin in the mid-twentieth century concept of motivational research. In doing so, the work of Veblen (1899), Lazarsfeld (1935) and Packard (1957, 1959) are used as a foundation to illustrate how more recent commentators, such as Gad (2016) and Jamieson (1983), can be evoked. Findings Analysis of the images presented builds upon previous work done on cruise ship posters. Previous examinations used mid-twentieth century posters to show how the ship was slowly being eroded. The current work illustrates ...
DOAJ (DOAJ: Directory of Open Access Journals), Jul 1, 2013
Many would judge the privatisation program, a significant feature of the"New ZealandExperime... more Many would judge the privatisation program, a significant feature of the"New ZealandExperiment"of the 1980's and 1990's in which both Labour andNational governments adopted extreme right wing policies, a failure. In looking atthe privatisation of state assets we find they were, at least from an investors'perspective reasonably successful. Returns to investors who held a portfolio ofprivatised assets outperformed the NZ share market as a whole. An investmentstrategy of buying each privatisation, on the market on day one, yielded a returnof 7.99% representing an XHPY was 1.19% over a similar investment in theentire NZ market. There can be little doubt; the nine privatisations in this samplehad a considerable impact on the NZ stock market, following the listing ofTelecom in 1991 total privatised assets comprised 49% of the NZ total market, fortwenty years the capitalisation of the privatisation sample averaged 37% of theNZ total market. Analysis of government papers of the day reveals thegovernment's overall objective was increased efficiency, flowing from afundamental belief that governmentcouldn't and shouldn't run commercialbusinesses. In this they were successful, but at what cost?
ABSTRACT The early trapezitai (moneylenders) of Greece are credited with offering the first rudim... more ABSTRACT The early trapezitai (moneylenders) of Greece are credited with offering the first rudimentary payment system, in which a credit note given to a trader in one Greek port could be cashed with a moneylender in another, thus transferring funds (Lopez, 1979). Today, the provision of a payment system is recognised as essential to economic development (Mishkin, 2001) and can be used to define, along with financial intermediation, modern banks. Just as the ancient trapezitai revolutionised trade, the Bank of New Zealand, in heading up a consortium of New Zealand trading banks in the 1960s, revolutionised banking in this country when it established Databank Systems Ltd (Databank). Databank employed computer technology that was new to New Zealand to centralise the ledger accounts of all trading banks for the clearing of cheques. This paper details the history of Databank, describing its competitive co-operative system and the internal entrepreneurial activities of its founding general manager, Gordon Hogg, in process innovation. Ultimately, Databank achieved what was seen in the late 1960s as near impossible by international senior computer and bank management staff (Shaw, Shaw, Lockery & McCay, 2012).
Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Ze... more Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Zealand, with a primary thesis being that savings banks in New Zealand were intended to operate in a similar way to those in the UK. That is, to provide banking services to the working classes and supply revenue to a cash-strapped government. Savings banks were reasonably successful in meeting the needs of their depositors but provided little revenue to the government. This gives rise to a secondary thesis that, when the Government was presented with the opportunity to establish the Post Office Savings Bank (POSB), they did so with revenue in mind. Design/methodology/approach Contemporaneous scholarly discussion along with newspaper, primary sourced bank and government archives builds an interpretation of why savings banks were established in New Zealand. This interpretation is presented in the form of a narrative, which tells the story of the rise of private savings banks in New Zealand and their eventual stagnation when the POSB was introduced. Findings Savings banks in New Zealand were initiated by Governor Grey primarily to provide an alternative source of development funding. New Zealand savings banks, initially modelled on UK and New South Wales variants, also appear to have been designed to meet the needs of the working classes, with deposits limited to £50 a year and a maximum balance set of £100 in total. However, as the requirement to invest in Government debt was removed from their founding legislation, they mainly provided mortgages to their local communities. To some extent, this situation was remedied in 1867 when the POSB was established, as it was required to invest as directed by the Government. Originality/value The narrative highlights the importance of savings banks and the POSB to both the people and government of New Zealand. This research adds to the discussion surrounding the purpose of savings banks and details the contributions made by both savings banks and the POSB in colonial New Zealand. As previous publications were in the main commissioned by various savings banks, this work provides an independent academic analysis of the first savings banks in colonial New Zealand in the period from the signing of the Treaty of Waitangi in 1840 until New Zealand became a dominion in 1907.
New Zealanders once aspired to home ownership, for many that dream has now been shattered. This p... more New Zealanders once aspired to home ownership, for many that dream has now been shattered. This paper examines house price inflation in New Zealand, comparing the relationship between the Official Cash Rate and bank mortgage interest rates. We examine the degree of pass through, from the OCR to retail mortgage rates, in the period July 2001 until November 2012. A period of interest not only because of the 2008 Global Financial Crisis, but also pre-crisis the RBNZ was increasing the OCR to dampen a booming economy while post crisis they dramatically slashed the OCR in response to global economic outlook. We find there is little pass through from the OCR to retail mortgage rates, and it has limited effect on house price inflation and house affordability. We conclude the RBNZ does not have tools to deal with housing affordability and it may be better for it to be left to the market to self-correct.
This paper examines the development of savings banks in New Zealand from 1846 through to 1908 and... more This paper examines the development of savings banks in New Zealand from 1846 through to 1908 and the role they played in the new colony. As part of the British Empire, New Zealand savings banks were modelled on the savings bank initially established by Duncan in Dumfriesshire in 1810. The Scottish model, exemplified by the savings bank opened in Ruthwell by Revered Duncan in 1810, appears to be a starting point for the Australasian variants. Like the original, the intention of the colonial banks was to provide a place where ‘working poor’ could learn and benefit from the lessons of thrift. This was not so much for thrift’s sake but in order to secure the economic future of the working classes (Bowels, 1817).This study relies on archival newspapers, archival records maintained by savings banks, New Zealand yearbooks, relevant Acts of Parliament and Parliamentary debates recorded in such as the Hansard to document the establishment and management of savings banks in New Zealand. New Zealand’s savings banks including the Post Office Savings Bank are briefly compared to those previously established in the United Kingdom. The research identifies differences between New Zealand savings banks and the previously established UK savings banks. We also document tensions that existed between New Zealand savings banks and the POSB established in 1867. This research contributes to the discussion surrounding the purpose of savings banks in that it documents the contributions made by both savings banks and the POSB in a developing colony. It also identifies the important role of savings in a pre-welfare state economy.
International journal of economics and finance, 2013
Many would judge the privatisation program, a significant feature of the “New Zealand Experiment”... more Many would judge the privatisation program, a significant feature of the “New Zealand Experiment” of the 1980’s and 1990’s in which both Labour and National governments adopted extreme right wing policies, a failure. In looking at the privatisation of state assets we find they were, at least from an investors’ perspective reasonably successful. Returns to investors who held a portfolio of privatised assets outperformed the NZ share market as a whole. An investment strategy of buying each privatisation, on the market on day one, yielded a return of 7.99% representing an XHPY was 1.19% over a similar investment in the entire NZ market. There can be little doubt; the nine privatisations in this sample had a considerable impact on the NZ stock market, following the listing of Telecom in 1991 total privatised assets comprised 49% of the NZ total market, for twenty years the capitalisation of the privatisation sample averaged 37% of the NZ total market. Analysis of government papers of th...
Uploads
Papers by Andrew Cardow