International Financial Credit Crises; Lessons from Canada

Rashid, Muhammad Mustafa (2019): International Financial Credit Crises; Lessons from Canada.

Abstract

The credit crises experienced in the US in year 2008 is labeled as perhaps the most significant crises since the great depression. The roots of the crises were found in the default of the sub-prime mortgages and the failure occurred in both the US and the UK. Due to the integrated nature of international financial systems the spillover impacted many countries as the economies in Asia and Europe were purchasers of the sub-prime mortgages that originated in both UK and US. The impact of the credit crises in Canada is of unique importance due to the close proximity to US, and both the US and Canada being of great strategic importance to each other as well as one of the largest trading partners. Even though the international financial credit crises adversely impacted many countries, the evidence that has come across recent years point towards the conclusion that Canada was able to weather the crises much better than many other countries.

• Item Type: MPRA Paper
• Language: English
• Keywords: Banking System, Canada, Country Study, Financial Credit Crises, MNC’s, Regulations
• Subjects: F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms ; International Business; N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N12 - U.S. ; Canada: 1913-; N - Economic History > N2 - Financial Markets and Institutions > N22 - U.S. ; Canada: 1913-; N - Economic History > N3 - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy > N32 - U.S. ; Canada: 1913-; N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N42 - U.S. ; Canada: 1913-; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O51 - U.S. ; Canada

References

Haltom, R. (2013). Why was Canada Exempt from the Financial Crises. Retrieved from Richmond Federal Reserve: https://www.richmondfed.org

Madura, J. (2016). International Financial Management. Cengage Learning.

Rashid, M. M. (2019). A Survey of US and International Financial Regulation Architecture . MPRA Paper No. 93447.