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The Financial Services Sector: Past Changes and Future Prospects


  • Freedman, C.
  • Goodlet, C.


The financial service industry has been undergoing significant change in recent years. This paper analyzes some key developments affecting the industry and examines some important issues facing the industry and its regulators. Changes discussed include the way services are provided, the instruments used to provide servces, and the nature of the financial service providers. Factors driving these changes include technological developments, the changing role of competition, and demographically led changes in household portfolios.

Suggested Citation

  • Freedman, C. & Goodlet, C., 1998. "The Financial Services Sector: Past Changes and Future Prospects," Technical Reports 82, Bank of Canada.
  • Handle: RePEc:bca:bocatr:82

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    References listed on IDEAS

    1. E Philip Davis, 1996. "The Role of Institutional Investors in the Evolution of Financial Structure and Behaviour," RBA Annual Conference Volume,in: Malcom Edey (ed.), The Future of the Financial System Reserve Bank of Australia.
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    Cited by:

    1. Charles Freedman & Clyde Goodlet, 2002. "The Financial Services Sector: An Update on Recent Developments," Technical Reports 91, Bank of Canada.
    2. Jobst, Andreas A., 2002. "Loan securitisation: default term structure and asset pricing based on loss prioritisation," LSE Research Online Documents on Economics 24941, London School of Economics and Political Science, LSE Library.
    3. Jobst, Andreas A., 2002. "The Pricing puzzle: The default term structure of collateralised loan obligations," CFS Working Paper Series 2002/14, Center for Financial Studies (CFS).
    4. Bessler, Wolfgang & Murtagh, James P., 2002. "The stock market reaction to cross-border acquisitions of financial services firms: an analysis of Canadian banks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(4-5), pages 419-440.
    5. Freedman, C., 1998. "The Canadian Banking System," Technical Reports 81, Bank of Canada.
    6. Christian Calmès, 2004. "Regulatory Changes and Financial Structure: The Case of Canada," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(I), pages 1-35, March.
    7. Jason Allen & Ying Liu, 2007. "Efficiency and economies of scale of large Canadian banks," Canadian Journal of Economics, Canadian Economics Association, vol. 40(1), pages 225-244, February.
    8. Danny Leung & Terence Yuen, 2007. "Labour Market Adjustments to Exchange Rate Fluctuations: Evidence from Canadian Manufacturing Industries," Open Economies Review, Springer, vol. 18(2), pages 177-189, April.
    9. John Muellbauer & Pierre St-Amant & David Williams, 2015. "Credit Conditions and Consumption, House Prices and Debt: What Makes Canada Different?," Staff Working Papers 15-40, Bank of Canada.
    10. Christian Calmès, 2004. "Regulatory Changes and New Banking: the Case of Canada," Finance 0408011, EconWPA.
    11. calmes christian, 2004. "Trends in the Canadian Financial System," Finance 0408002, EconWPA.

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    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation


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