In the 30 years after the Second World War there was substantial investment by the state in such activities as housing, roads, power generation and education, so in constant 1978 dollars the value of state investment rose steadily. However private investment rose faster, although more erratically, with particular increases in the early 1950s in farm development and a fall in the late 1960s following the drop in wool prices.
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Te Ara - The Encyclopedia of New Zealand
Source: Statistics New Zealand
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