RBNZ's Bollard on financial stability issues

In the speech 'Kiwis like buying houses more than buying businesses' given on 9 November Alan Bollard of the RBNZ said New Zealanders' low investment in local businesses leaves the economy more vulnerable to shocks and constrains the country's growth prospects.

Speaking to the PricewaterhouseCoopers Annual Tax Conference in Auckland, Dr Bollard said New Zealand investors' preoccupation with housing assets has been at the expense of other assets normally found in household portfolios, such as

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