June 16, 2021
Professor contributes to report on province's financial sector
Co-authored with Jack Mintz, L. Daniel Wilson, and Bryce Tingle, "Building Alberta's Financial Sector" focuses on two key issues. The first is to examine those supply-driven factors that enable financial markets to expand, as seen in various jurisdictions. In this section, we compare Alberta’s financial sector depth to other provinces. We also look at OECD and non-OECD countries with the largest financial and insurance sectors as a share of GDP. We observe that jurisdictions with larger financial and insurance sectors have favourable conditions, including a strong rule of law, low political risk, low withholding and corporate income taxes, and financial soundness resulting from regulation. The second is to discuss how those factors could apply to Alberta and the policy choices that would result in a growing financial sector.