Canada and the United States
Different roots, different routes to financial sector regulation
Bibliographic Data
| ID | 8420475 |
|---|---|
| Authors | Donald J S Brean (University of Toronto, corresponding author), Lawrence Kryzanowski (0000-0002-3028-5700, Concordia University), Gordon S Roberts (York University) |
| Year | 2011 |
| Volume | 53 |
| Issue | 2 |
| Pages | 249-269 |
| Publication date | 2011-04-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Business History (JOURNAL) |
| Journal identifiers | ISSN: 0007-6791 • E-ISSN: 1743-7938 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00076791.2011.555109 |
| OpenAlex | W2070748656 |
| Language | EN |
| Citations received | 7 |
| References cited | 17 |
This paper explores the lessons to be learned from why the neighbouring banking systems of Canada and the United States, that share numerous commonalities, fared so differently during two major financial crises. The explanations are deeply rooted in different tolerances for industry concentration and state involvement, and the divergent routes of the development of their financial systems, founding institutions, on-going governance and regulation, and competitive structures. Canada's success during the more recent 2007–09 financial crisis is attributed to more effective regulation and conservative banking practices, including (self-) imposed stricter limits on bank leverage, much stricter limits on unconventional mortgages, and less reliance on the use of more ‘creative’ investment types (e.g. subprime lending) and structured products
Business · Corporate governance · Economics · Financial crisis · Financial regulation · Financial system · Investment (military · Investment banking · Leverage (statistics · Macroeconomics · Market economy · Political science · State (computer science · Subprime crisis · Banking stability, regulation, efficiency · Canadian Policy and Governance · Finance · Global Financial Regulation and Crises
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| Unique citing works | 7 |
|---|---|
| Citations per year | 0,54 |
| Citation span | 2013 - 2024 (12) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 7 |