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The purpose of this study is to investigate why “financial fragility” carries different definitions in the economic literature. This is a useful task as the detection of “financial fragility” depends, in part, upon how one defines it. According to Post Keynesian economists, financial fragility is a process that can culminate in financial instability (an event). For mainstream or New Keynesian economists, financial fragility has been traditionally defined as a state in which a shock can trigger instability. More recently, however, mainstream economists have recast their definition as a particular form of financial instability – an event. Each definition of financial fragility is intimately linked to the theoretical foundation upon which it rests. This carries important implications for the ability of policymakers to assess and manage the health of an economy.

The different approaches to the definition and detection of financial fragility are compared using corresponding sets of indicators. Indicators for the Post Keynesian approach are derived from a simple cash‐flow accounting framework, in the spirit of Hyman Minsky. The economy selected for study is New Zealand.

According to the Post Keynesian approach, New Zealand has been in a financially fragile state for over three years, a period during which policymakers could have been creating ways to make New Zealand more resilient to the onset of instability. According to the New Keynesian approach, New Zealand may just now be experiencing fragility, giving policymakers much less time to react.

This study traces the definitions of financial fragility to their underlying theoretical frameworks and draws the implications for the methods of detecting financial fragility.

The purpose of this paper is to measure the size of New Zealand’s co-operative sector, in terms of its direct contribution to output and employment as well as its indirect impact. This adds to the construction of a rigorous representation of the global co-operative economy.

The findings here are based on data derived largely from surveying the co-operative sector in 2012. A value added approach is used to estimate the co-ops sector’s contribution to New Zealand’s GNP.

The author estimates suggest that the cooperative sector is much larger, even in its direct impact on the economy, than the prior estimates indicate.

Assumptions were made on the size contribution of missing firms and the value added contribution of co-ops. These assumptions need to be interrogated and improved upon, albeit the assumptions are designed to generate lower bound size estimates.

The methodology adopted in this paper can be used to develop more rigorous estimates of the size of the co-op sector globally.

The results empirically challenge the worldview of conventional economics that co-ops are not economically sustainable, where co-ops offer a more equitable and democratic mode for production and development.

This paper presents revised, relatively robust, and methodologically transparent estimates of the size of New Zealand’s co-operative sector. These estimates suggest a much larger sector than previously thought. The methodology developed here can contribute to developing more robust estimates of the size of the co-op sector globally.

Assesses and appraises New Zealand’s economic restructuring between 1984 and 1994. Provides an historical overview of the country’s economic performance and looks at past governmental policies. Examines the impact of the return to power of the Labour Party in 1984 and provides a broad chronology of the reform measures as they have evolved. Examines the compatibility of micro‐ and macro‐economic policies and then looks at possible achievements.

This chapter has documented the changing roles and dynamics of New Zealand’s airports between 2001 and 2016. New Zealand has well-developed airport systems for both international and domestic air passenger and air freight services. New Zealand airports have experienced marked growth during the study period and growth looks to continue throughout the country. Moreover, New Zealand’s airport system plays a direct role in New Zealand’s air transport and tourism sectors, as well as contributing to other major economic sectors. International and domestic connections to New Zealand airports facilitate the continued growth and importance of tourism, acting as a backbone to the New Zealand economy. In addition to tourism, airports play a crucial role in the facilitation of imports and exports and the development of regional business hubs and supporting activities for New Zealand’s other major industries. Importantly, New Zealand airports are a critical part of its economy and will continue to be so in the decades to come.

This opinion piece outlines the actions taken by the New Zealand government and tourism sectors in response to Covid-19 and to explore the potential lessons for resilience building in tourism for other destinations.

The analysis integrates descriptions of the Covid-19 outbreak and tourism-related policy responses in New Zealand, taken from prominent medical, governmental and journalistic accounts.

The resilience of the economy and domestic tourism was a major New Zealand policy priority, but this was seen by the Ardern administration as best achieved by first ensuring the health and well-being of the populace, as quickly and comprehensively as possible. This, in turn, required proactive, nationally coordinated measures designed to minimize the spread of Covid-19 including: lockdowns, preventive social-distancing and mask mandates, a four-level graduated strategy for ensuring national Covid-19 recovery (which later morphed into the “traffic light” system) and closely following the medical and epidemiological advice of experts in the related academic sciences. As a result of these, the negative impact on health, the overall economy and the tourism sector was substantially minimized, when compared with many other similar nations during the 2020–2022 period.

The New Zealand experience holds important lessons for preserving and rebuilding the hospitality and tourism industry in the aftermath of Covid-19, and during future similar pandemics.

Australia and New Zealand are two very special economies of the South Pacific. The settlers of these two economies came from Europe, mostly the UK. Indeed, both were colonies of the British Empire and Her Majesty, the Queen of England, continues to be the constitutional head of Australia and New Zealand. The original peoples of the two economies acceded to the authority of the European settlers. Some went on to complete an English education and earned places of official rank and accommodation under the new regime. It was only recently, on February 23, 2008, at the initiative of Prime Minister Kevin Rudd of Australia, that the Australian Parliament resolved to offer an official apology to the indigenous peoples of the land for their past suffering.

This paper aims to contribute to indigenous entrepreneurship theory by identifying what constitutes an indigenous enterprise, focussing on Aotearoa New Zealand as a case.

This paper combines policy (quantitative survey) and academic research (qualitative interviews) to answer the same question, what is an indigenous enterprise in Aotearoa New Zealand?

The authors found a degree of consistency as to what counts as an indigenous enterprise in the literature (e.g., identity, ownership, values), yet a consensus on a definition of Maori business remains elusive. They also found that an understanding of the indigenous economy and indigenous entrepreneurial policy are impeded because of definitional uncertainties. The authors propose a definition of Maori business which accounts for indigenous ownership, identity, values and well-being.

The main limitation is that the literature and research use different definitions of indigenous enterprise, constraining comparative analysis. The next step is to evaluate our definition as a basis for quantifying the population of indigenous enterprises in Aotearoa New Zealand.

The research assists indigenous entrepreneurs to identify, measure and account for their contribution to indigenous self-determination and sustainable development.

This research has the potential to reconceptualise indigenous enterprise as a distinct and legitimate alternative institutional theory of the firm.

The research challenges assumptions and knowledge of entrepreneurship policy and practice generally and the understanding of what is the nature and extent of an indigenous firm.

Creative destruction “revolutionises the economic structure from within”, Joseph Schumpeter famously said, “incessantly destroying the old one, incessantly creating a new one”. Innovation in business – bringing new goods, new markets, new methods of production, new ways of organising firms – is the “fundamental impulse that sets and keeps the capitalist engine in motion” (Schumpeter, 1975, p. 83). Does the economy have enough flexibility? Are there barriers in the way of entrepreneurship? This paper develops a framework for quantifying creative destruction.

Many studies have dealt with internationalization of business firms in the past years, few, however, have explored the pattern and process of internationalization in small, commodity based economies. In this study, the situation in New Zealand is considered, in part because it is a small, export and commodity based economy, unlike most countries previously studied. Five different clusters of New Zealand companies were found as related to the stages of internationalization. These include “Worried Beginners”, “Half‐hearted Domestics”, “Maturing Adapters”, “Conservative Exporters”, and “Experienced Succeeders”. Variables which appear to reflect stages of internationalization are also explored and presented in this study.