Financial Crisis in Canada Research Paper by Nicky

Financial Crisis in Canada
A look at the impacts of the global financial crisis on Canada and the Canadian government's response.
# 148092 | 4,368 words | 22 sources | APA | 2011 | US
Published on Aug 31, 2011 in Canadian Studies (Economics and Finance)


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Description:

This paper examines how Canada's somewhat muted response to the global financial crisis reflects its relative strength. It looks at how the high level of regulation, particularly in the banking system, has made Canada's economy less volatile than that of the United States or those in Europe and how as a result, Canada's wealth and power have increased as result of the financial crisis.

Outline:
Introduction
Affects of the Global Financial Crisis
How Has the Canadian Government Handled the Crisis?
Assessment of Canada's Response
Conclusion

From the Paper:

"Canada's housing sector was one of the main economic drivers during the 2000s, much as it was in the United States. The perception is that some parts of the country experienced a housing bubble, particularly British Columbia and Alberta, and to a lesser extent Toronto. Housing and other construction spurred economic growth but the bubble was not believed to be as substantial in Canada for a couple of reasons. One is that because mortgage interest is not deductible, demand for housing was limited, particularly speculative demand. Another reason is that Canada's mortgage market remains backed by the major banks, and they did not increase subprime lending to the extent that US lenders did. Moreover, Canada does not have the same type of strong, liquid secondary market for mortgages as was facilitated in the US by Fannie Mae and Freddie Mac."

Sample of Sources Used:

  • No author. (2007). Gross Domestic Product. World Bank. Retrieved April 20, 2009 from http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf
  • Uptigrove, Mark. (2005). Canada's Petro-Currency Cushion. Morningstar. Retrieved April 20, 2009 from http://quicktake.morningstar.com/Stocknet/san.aspx?id=145803
  • CIA World Factbook: Canada (2009). Retrieved April 20, 2009 from https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html
  • Zakaria, Fareed. (2009). Worthwhile Canadian Initiative. Newsweek. Retrieved April 20, 2009 from http://www.newsweek.com/id/183670
  • Skousen, Dr. Mark. (2009). Canadian Banking System: An Oasis of Financial Calm. Seeking Alpha. Retrieved April 20, 2009 from http://seekingalpha.com/article/122848-canadian-banking-system-an-oasis-of-financial-calm

Cite this Research Paper:

APA Format

Financial Crisis in Canada (2011, August 31) Retrieved May 27, 2020, from https://www.academon.com/research-paper/financial-crisis-in-canada-148092/

MLA Format

"Financial Crisis in Canada" 31 August 2011. Web. 27 May. 2020. <https://www.academon.com/research-paper/financial-crisis-in-canada-148092/>

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