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A primer on New Zealand's capital markets

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Abstract

This article describes New Zealand’s capital markets, and the role they play in the functioning of financial markets and the real economy. It describes the instruments and players involved, and analyses a unique dataset to provide some detail on the size of both the bond and equity markets, which together comprise local capital markets. The article also summarises regulatory and policy initiatives since the publication of a report from the Capital Markets Taskforce in 2009.

Suggested Citation

  • Lauren Rosborough & Geordie Reid & Chris Hunt, 2015. "A primer on New Zealand's capital markets," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 78, pages 3-22, May.
    • Handle: RePEc:nzb:nzbbul:may2015:03
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2015/2015may78-3.pdf
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    References listed on IDEAS

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    1. Ian Nield, 2008. "Evolution of the Reserve Bank’s liquidity facilities," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 71, December.
    2. Geordie Reid, 2014. "Can’t see the wood for the trees – shedding light on Kauri bonds," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 77, pages 26-33, June.
    3. Bevan Cook, 2012. "What is the repo market? Why does it matter?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 13-21, December.
    4. Warren Potter, 1995. "An overview of the money and bond markets in New Zealand Part 1: the Crown debt market," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 58, September.
    5. Kevin Hoskin & Ian Nield & Jeremy Richardson, 2009. "The Reserve Bank's new liquidity policy for banks," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 5-18, December.
    6. Iris Claus & Veronica Jacobsen & Brock Jera, 2004. "Financial Systems and Economic Growth: An Evaluation Framework for Policy," Treasury Working Paper Series 04/17, New Zealand Treasury.
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    Cited by:

    1. Sarah Drought & Roger Perry & Adam Richardson, 2018. "Aspects of implementing unconventional monetary policy in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 81, pages 1-22, May.

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