Canada before the effects of dragging of the American financial crisis

This article analyzes the effects of the U.S. crisis on a country like Canada, which along with Mexico, enjoys an exceptional situation due to its geographical proximity to the United States, as well as the particularities of its economy, highly dependent on this country and regulated largely by its...

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Autor principal: Gutiérrez-Haces, María Teresa
Lenguaje:Español
Publicado: Facultad de Economía 2014
Acceso en línea:http://www.revistas.unam.mx/index.php/ecu/article/view/45042
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-030&d=article45042oai
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Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
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institution Consejo Latinoamericano de Ciencias Sociales
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repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
language Español
description This article analyzes the effects of the U.S. crisis on a country like Canada, which along with Mexico, enjoys an exceptional situation due to its geographical proximity to the United States, as well as the particularities of its economy, highly dependent on this country and regulated largely by its participation in NAFTA. The analysis of the Canadian case is relevant, since the effects of the U.S. crisis impacted unevenly on certain economic sectors and specific provinces and regions; this aspect contributed to the crisis did not have such devastating effects, but could not prevent the collapse of the market for asset-backed commercial paper. Although Canadian crisis was linked to the effect of the U.S. housing bubble, the effect was attenuated by the government policy of promotion housing, which does not subsidize the Canadian mortgage as in the United States. The disparity in the payment of interest during the loan period, directly affects the property rights of debt, so that in Canada the deadlines to be shorter cause the debt incurred will be paid into the bank in the first instance, while in the United States debt is renegotiated and transferred to other entities because the loans until their maturity is still a business that generates profits. Banks established in Canada, during the crisis, benefited from the bailout programs offered by the U.S. Federal Reserve, the Bank of Canada and the Canada Mortgage and Housing Corporation.  
author Gutiérrez-Haces, María Teresa
spellingShingle Gutiérrez-Haces, María Teresa
Canada before the effects of dragging of the American financial crisis
author_facet Gutiérrez-Haces, María Teresa
author_sort Gutiérrez-Haces, María Teresa
title Canada before the effects of dragging of the American financial crisis
title_short Canada before the effects of dragging of the American financial crisis
title_full Canada before the effects of dragging of the American financial crisis
title_fullStr Canada before the effects of dragging of the American financial crisis
title_full_unstemmed Canada before the effects of dragging of the American financial crisis
title_sort canada before the effects of dragging of the american financial crisis
publisher Facultad de Economía
publishDate 2014
url http://www.revistas.unam.mx/index.php/ecu/article/view/45042
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-030&d=article45042oai
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