Aside from the potential financial stability or soundness concerns this raises, it may also have implications for product and service innovation, and ultimately the dynamism of our financial system. We asked at the beginning of this paper how well our financial services industry works for us. To conclude: banks deliver basic banking services in New Zealand reasonably efficiently.
However, as of the end of March 2021, a wider gap has formed, with the share at 15 percent in Japan and 51 percent in the United States3 (Chart 19). Reflecting this trend, growth in household dividend income in Japan has been more or less flat since the early 1990s.