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International Financial Credit Crises; Lessons from Canada

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  • Rashid, Muhammad Mustafa

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.

Suggested Citation

  • Rashid, Muhammad Mustafa, 2019. "International Financial Credit Crises; Lessons from Canada," MPRA Paper 94657, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:94657
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    File URL: https://mpra.ub.uni-muenchen.de/94657/1/MPRA_paper_94657.pdf
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    References listed on IDEAS

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    1. Rashid, Muhammad Mustafa, 2019. "A Survey of US and International Financial Regulation Architecture," MPRA Paper 93447, University Library of Munich, Germany.
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    Cited by:

    1. Rashid, Muhammad Mustafa, 2017. "King, Fuller and Dworkin on Natural Law and Hard Cases," MPRA Paper 100958, University Library of Munich, Germany, revised 19 May 2020.
    2. Rashid, Muhammad Mustafa, 2020. "Real Options: Capital Investment Appraisal; Estimating the Market Price of Risk and Application to the Valuation of a New Business," MPRA Paper 101807, University Library of Munich, Germany, revised 19 Jul 2020.
    3. Rashid, Muhammad Mustafa, 2020. "Case Analysis: Enron; Ethics, Social Responsibility, and Ethical Accounting as Inferior Goods?," MPRA Paper 98441, University Library of Munich, Germany.

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    1. Rashid, Muhammad Mustafa, 2020. "Case Analysis: Enron; Ethics, Social Responsibility, and Ethical Accounting as Inferior Goods?," MPRA Paper 98441, University Library of Munich, Germany.
    2. Rashid, Muhammad Mustafa, 2017. "King, Fuller and Dworkin on Natural Law and Hard Cases," MPRA Paper 100958, University Library of Munich, Germany, revised 19 May 2020.

    More about this item

    Keywords

    Banking System; Canada; Country Study; Financial Credit Crises; MNC’s; Regulations;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-
    • N22 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: 1913-
    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
    • N42 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: 1913-
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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