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Mordacious years’: socio-economic aspects and outcomes of New Zealand’s experience in the Great Depression

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  • Matthew Wright

    (Reserve Bank of New Zealand)

Abstract

Some commentators in New Zealand and elsewhere have proposed similarities between the Great Depression of the early 1930s and the recession that began in 2007-08. To illuminate that discussion, this article provides brief international context before narrating selected economic data and socio-economic aspects of New Zealand’s 1930s experience during the Great Depression, arguing that the popular perception of New Zealand’s economic experience was moulded more by perceived social impact than the empirical economic data.

Suggested Citation

  • Matthew Wright, 2009. "Mordacious years’: socio-economic aspects and outcomes of New Zealand’s experience in the Great Depression," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 43-61, September.
  • Handle: RePEc:nzb:nzbbul:sept2009:4
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2009/2009sep72-3wright-hi-res.pdf
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    References listed on IDEAS

    as
    1. Madsen, Jakob B., 2001. "Agricultural Crises And The International Transmission Of The Great Depression," The Journal of Economic History, Cambridge University Press, vol. 61(02), pages 327-365, June.
    2. Ben Bemanke & Harold James, 1991. "The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison," NBER Chapters,in: Financial Markets and Financial Crises, pages 33-68 National Bureau of Economic Research, Inc.
    3. Alan Bollard & Tim Ng, 2009. "Coping with global financial and economic stresses," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 34-45, March.
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