Before the 1980s the number of bankruptcies rose during periods of general economic distress in New Zealand. The depressions of the 1870s and early 1930s were reflected in increased numbers of bankrupts – mostly due to business failures. However bankruptcies in the late 1980s and 1990s were more often the result of excessive spending by individuals.
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Te Ara - The Encyclopedia of New Zealand
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Source: Statistics New Zealand
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