The local authorities' capital market in New Zealand
Degree GrantorUniversity of Canterbury
Degree NameMaster of Arts
This thesis affords an examination of the operation of the Capital Market in New Zealand as it affects local authorities. The intention of the study is to determine and analyse the factors affecting the supply of and demand for capital, to examine the problems at present faced by the authorities in their attempts to obtain capital finance, and to conjecture as to whether or not the Market is organised in such a way that best ensures an adequate flow of capital to this sector. The chronic difficulties experienced by many local authorities in their attempts to obtain capital finance were among the factors which induced the New Zealand Government (in 1957) to set up a Royal Commission to investigate the whole field of local authority finance and the Report of that Commission (presented in September 1958) provides the basis for much of this Thesis. Other information has been obtained from a series of personal interviews which have been scheduled as 'Appendix A'.