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THE EUROMARKETS AND THE NEW ZEALAND GOVERNMENT IN THE 1960S
Author(s) -
Singleton John
Publication year - 2009
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/j.1467-8446.2009.00265.x
Subject(s) - government (linguistics) , german , capital market , capital (architecture) , german government , financial market , business , perspective (graphical) , finance , economy , market economy , economics , geography , philosophy , linguistics , archaeology , artificial intelligence , computer science
The rapid development of the Euromarkets and the more gradual opening of the West German and other capital markets to external borrowers were significant events in the reglobalisation of financial markets beginning in the 1960s. Finding it increasingly difficult to borrow in the domestic British and US capital markets, the New Zealand government sought to take advantage of the Euromarkets. As well as providing an antipodean perspective on the early Euromarkets, this paper comments on developments in the City of London in the 1960s, and outlines the process by which a relatively inexperienced borrower set about building a communicating infrastructure that enabled relationships to be forged with overseas financial institutions.