By Luck and By Design: The Canadian Banking System’s Resilience to the Great Financial Crises

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By Luck and By Design: The Canadian Banking System’s Resilience to the Great Financial Crises

Tuesday, 7 May 2013 - 6:30pm to 7:30pm
Venue: 
Pavilion North Room, Gateway Buildings, St Antony’s College
Speaker(s): 
Ellen Quigley (University of Cambridge)
Convenor: 
Dr Halbert Jones
Series: 
North American Studies Seminar Series

As it is told in the media today, the story of Canada's resilience in the face of the 2007-2009 financial crisis and its aftermath is one of smart regulation in the context of a liberalised financial sector. But this good news story obscures a more complicated narrative - one shaped by geography, history, regulatory strengths and weaknesses, institutional structure, and happenstance; the country's portrayal as a free market exemplar with smart regulation gives a false picture of successful financial sector policy for other states to emulate. This presentation will provide a more complex picture of the factors behind the relatively mild impact of the global financial crisis on Canada, showing how Canada was partly smart, partly lucky.