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- Permanent Link:
- http://dpanther.fiu.edu/dpService/dpPurlService/purl/FI13042163/00001
Notes
- Summary:
- This paper studies the impact of the February 2011 Canterbury earthquakes in New Zealand, examining the adequacy of the normal indicators used to measure gross domestic product (GDP). The objective is to evaluate these sources to ensure they appropriately capture earthquake-related changes in the country’s economic performance. The 2001 New Zealand earthquake occurred 10 kilometers from the center of the city of Christchurch, significantly impacting the central business district and adjacent suburbs, resulting in major capital stock losses. The document goes on to discuss the traditional means utilized by Statistics NZ for measuring economic growth in New Zealand, and the government agency’s two measures of GDP published quarterly. One is the production measure (GDP) dealing with the value added to the economy by each industry. This document surveys the construction industry, manufacturing, wholesale trade, real estate, personal and community services, and health services. The second measure is the expenditure measure of GDP (GDE) whose main components are changes in national inventories, gross fixed capital formation, private and government final consumption expenditure, and exports and imports of goods and services. Statistics NZ also analyzed alternative sources for some components of GDP for the March 2011 quarter. While the study compared alternative measures for some aspects of GDP to traditional sources, Statistics NZ found that standard indicators for GDP were adequate in displaying the effects of the earthquake on the country’s economic disposition. The study found that though building construction had slowed down, other construction-related activities, particularly demolition and building repairs, were on the rise. In manufacturing and wholesale trade, similar trends were observed as decreases in spending in the earthquake zone were offset by spending in other areas. Also, despite the value of commercial property destroyed or damaged in Christchurch, this made up less than one percent of total commercial property in New Zealand, so its impact on overall economic production was negligible. In terms of the expenditure measure of GDP, government expenditures have risen with the growth of the Earthquake Commission from a staff of 21 pre-earthquake to 1,064 post-quake, increased purchases of services by local governments for the cleanup, government earthquake relief support packages, and rising imports as the reconstruction effort pushes forward. ( English )
- Subject:
- Disaster Risk Management and Economics ( English )
- Scope and Content:
- 1. Summary p. 4; 2. Introduction to GDP p. 5; 3. Gross domestic product (GDP) p. 6; 4. Expenditure on gross domestic product (GDE) p. 12; 5. Related links p. 17 ( English )
- Citation/Reference:
- (2011). Impact of the Canterbury earthquakes on New Zealand's gross domestic product. Statistics New Zealand.
- General Note:
- Archived by the National Library of New Zealand. Title from PDF cover (viewed on Oct. 8, 2012). Hypertext links contained in the archived instances of this title are non-functional.
Record Information
- Source Institution:
- Florida International University
- Rights Management:
- Crown copyright © This work is licensed under the Creative Commons Attribution 3.0 New Zealand licence. You are free to copy, distribute, and adapt the work, as long as you attribute the work to Statistics NZ and abide by the other licence terms. Please note you may not use any departmental or governmental emblem, logo, or coat of arms in any way that infringes any provision of the Flags, Emblems, and Names Protection Act 1981. Use the wording 'Statistics New Zealand' in your attribution, not the Statistics NZ logo.
- Resource Identifier:
- FI13042163
813254427 ( oclc )
9780478377156 ( isbn )
0478377150 ( isbn )
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