The world is experiencing a severe financial crisis and global recession that has led some to call for a complete rethinking of global capitalism. While Canada has avoided some of the worst financial problems (thanks to its strong banking system and generally conservative approach to regulation), it is also feeling the global downturn. It needs to formulate a view on the necessary changes to the international financial system—changes that are the subject of ongoing official discussions and negotiations. This study analyses the causes of the financial crisis, and it argues that national financial regulators can and should do more to prevent a recurrence.
This report was produced by the Conference Board’s International Trade and Investment Centre that examines the implications of global economic dynamics for Canadian business and governments leaders. Learn more about the Centre’s research, events, and membership.