And of course, although capital outflow can alter the price of assets, foreign corporate owners can not take the land and buildings which they own with them. Those assets would remain in New Zealand, with their ownership changing from foreign to local.
*  *  *  I see from my records that this is the sixth time that I have addressed the Australian Business Economists, but the last time was four years ago. At that time most of the G7 countries were in recession and interest rates were still heading down.