Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or …)?

@article{Bordo2011WhyDC,
  title={Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or …)?},
  author={Michael D. Bordo and Hugh Rockoff and Angela Redish},
  journal={Banking & Insurance eJournal},
  year={2011}
}
  • Michael D. Bordo, Hugh Rockoff, Angela Redish
  • Published 2011
  • Economics, Business
  • Banking & Insurance eJournal
  • The financial crisis of 2008 engulfed the banking system of the United States and many large European countries. Canada was a notable exception. In this paper we argue that the structure of financial systems is path dependent. The relative stability of the Canadian banks in the recent crisis compared to the United States in our view reflected the original institutional foundations laid in place in the early 19th century in the two countries. The Canadian concentrated banking system that had… CONTINUE READING
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