Opening Up New Trade Routes for Financial Services: Canada's Priorities

Abstract

Institute publications undergo rigorous external review by academics and independent experts drawn from the public and private sectors. The Institute's peer review process ensures the quality, integrity and objectivity of its policy research. The Institute will not publish any study that, in its view, fails to meet the standards of the review process. The Institute requires that its authors publicly disclose any actual or potential conflicts of interest of which they are aware. In its mission to educate and foster debate on essential public policy issues, the C.D. Howe Institute provides nonpartisan policy advice to interested parties on a non-exclusive basis. The Institute will not endorse any political party, elected official, candidate for elected office, or interest group. As a registered Canadian charity, the C.D. Howe Institute as a matter of course accepts donations from individuals, private and public organizations, charitable foundations and others, by way of general and project support. The Institute will not accept any donation that stipulates a predetermined result or policy stance or otherwise inhibits its independence, or that of its staff and authors, in pursuing scholarly activities or disseminating research results.

Playing from Strength: Canada's Trade Deal Priorities for Financial Services

“…Rank -Attractiveness -are negotiating bilateral or multilateral deals with other countries and Canada is not, Canada is losing out on a potentially significant market. With that in mind, our results are similar to, but not exactly the same as, the priority markets we identified in Schwanen, Ciuriak, and Kronick (2015). 15…”

“…Canada's competitive position in any sector naturally depends on developments abroad. The global financial landscape has undergone a variety of economic shocks since we released our previous Commentary on Canadian priority trade markets (Schwanen, Ciuriak, and Kronick 2015), with some of the world's most important financial centres not immune to their negative consequences. On balance, we see some global and specialized centres experiencing adverse impacts from the shocks, while some of the more regional full-service centres are potentially gaining.…”

“…15 As in Schwanen, Ciuriak, and Kronick (2015), these priorities are in addition to CETA and its corresponding EU countries. Despite difficulties surrounding ratification, this trade deal has already been negotiated.…”

“…As inSchwanen, Ciuriak, and Kronick (2015), we consider indicators of relative strength in financial services trade also to indicate strength in operating as an investor in a target market through, for example, affiliates or joint ventures.…”