Development economics

• The Interplay of Financial Education, Financial Literacy, Financial Inclusion and Financial Stability: Any Lessons for the Current Big Tech Era?

  Staff Working Paper 2020-32 Nicole Jonker, Anneke Kosse

  The objective of this paper is twofold. First, we assess whether financial education might be a suitable tool to promote the financial inclusion opportunities that big techs provide. Second, we study how this potential financial inclusion could impact financial stability.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, Digital currencies and fintech, Financial markets, Financial services, Financial stability JEL Code(s): D, D1, D14, D9, D91, D92, G, G2, G21, G23, O, O1, O16

• BoC-BoE Sovereign Default Database: What’s New in 2020?

  Staff Analytical Note 2020-13 David Beers, Elliot Jones, John Walsh

  The Boc–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default. The 2020 edition includes a new section examining the scale of domestic arrears in 2018.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Debt management, Development economics, Financial stability, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15

• BoC–BoE Sovereign Default Database: Methodology, Assumptions and Sources

  Technical Report No. 117 David Beers, Elliot Jones, John Walsh

  Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE).

  Content Type(s): Staff research, Technical reports Topic(s): Debt management, Development economics, Financial institutions, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15

• The BoC-BoE Sovereign Default Database: What’s New in 2019?

  Staff Working Paper 2019-39 David Beers, Patrisha de Leon-Manlagnit

  Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE).

  Content Type(s): Staff research, Staff working papers Topic(s): Debt management, Development economics, Financial stability, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15
• September 28, 2018

  The benefits of freer trade

  

  Stephen Murchison, Alex Chernoff

  Freer trade lowers prices and boosts economies, yet not everyone benefits equally. Fair policies are essential for balanced growth and widespread prosperity.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Balance of payments and components, Development economics, International topics, Recent economic and financial developments, Trade integration

• The BoC-BoE Sovereign Default Database Revisited: What’s New in 2018?

  Staff Working Paper 2018-30 David Beers, Jamshid Mavalwalla

  Until recently, there have been few efforts to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of sovereign defaults posted on the Bank of Canada’s website that now is updated in partnership with the Bank of England.

  Content Type(s): Staff research, Staff working papers Topic(s): Debt management, Development economics, Financial stability, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15

• Product Sophistication and the Slowdown in Chinese Export Growth

  Staff Discussion Paper 2017-15 Mark Kruger, Walter Steingress, Sri Thanabalasingam

  Chinese real export growth decelerated considerably during the last decade. This paper argues that the slowdown largely resulted from China moving to a more sophisticated mix of exports: China produced more sophisticated goods over which it had pricing power instead of producing greater volumes of less sophisticated products.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Development economics, Exchange rates, International topics JEL Code(s): F, F1, F14, F17, O, O1, O10

• Expropriation Risk and FDI in Developing Countries: Does Return of Capital Dominate Return on Capital?

  Staff Working Paper 2017-9 M. Akhtaruzzaman, Nathan Berg, Christopher Hajzler

  Previously reported effects of institutional quality and political risks on foreign direct investment (FDI) are mixed and, therefore, difficult to interpret. We present empirical evidence suggesting a relatively clear, statistically robust, and intuitive characterization.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, International financial markets JEL Code(s): D, D2, D23, F, F2, F21, F23
• November 17, 2016

  Structural Reforms and Economic Growth in Emerging-Market Economies

  Bank of Canada Review - Autumn 2016 Jeannine Bailliu, Christopher Hajzler

  Growth has slowed in many emerging-market economies (EMEs) since the 2007–09 global financial crisis, reflecting both cyclical and structural factors. In this context, it will be in-creasingly important for EMEs to raise potential growth by maintaining steady progress on structural reforms. How do structural reforms generally support growth? What are the re-form priorities for EMEs over recent history and today? Finally, what will be the impact of planned structural reforms on potential output growth among the world’s larger EMEs? These are some of the questions considered by the authors.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Development economics, International topics, Potential output JEL Code(s): E, E0, E02, E6, E61, E65, O, O1, O11, O4, O41
• November 8, 2016

  Wood, Wheat, Wheels and the Web: Historical Pivots and Future Prospects for Canadian Exports

  Remarks Lawrence L. Schembri Atlantic Institute for Market Studies Halifax, Nova Scotia

  Deputy Governor Lawrence Schembri discusses the historical evolution and future prospects for Canadian exports.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Development economics, Exchange rates, Firm dynamics, International topics, Trade integration