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Trends in Issuance: Underlying Factors and Implications

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Trends in debt issuance have changed significantly over the past decade, both prior to the financial crisis and subsequently. This article provides an update on these trends in Canada relative to those in other capital markets and, where possible, analyzes the impact of the crisis on Canadian corporate issuance. The author examines trends in capital markets in Canada and other regions over the past ten years, focusing on three areas: the issuance of financial and non-financial corporate bonds, the issuance of financial and non-financial corporate equity, and securitization. The increased use of innovative and riskier financing prior to the crisis was less pronounced in Canada, and future refinancing needs are more in line with historical issuance levels.

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  • Jonathan Witmer, 2010. "Trends in Issuance: Underlying Factors and Implications," Bank of Canada Review, Bank of Canada, vol. 2010(Autumn), pages 19-30.
  • Handle: RePEc:bca:bcarev:v:2010:y:2010:i:autumn10:p:19-30
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    1. Rhee, Wooheon & Rich, Robert W., 1995. "Inflation and the asymmetric effects of money on output fluctuations," Journal of Macroeconomics, Elsevier, vol. 17(4), pages 683-702.
    2. Weise, Charles L, 1999. "The Asymmetric Effects of Monetary Policy: A Nonlinear Vector Autoregression Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(1), pages 85-108, February.
    3. Thoma, Mark A., 1994. "Subsample instability and asymmetries in money-income causality," Journal of Econometrics, Elsevier, vol. 64(1-2), pages 279-306.
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    Cited by:

    1. Adam Found & Peter Tomlinson, 2012. "Hiding in Plain Sight: The Harmful Impact of Provincial Business Property Taxes," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 368, December.

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