Freedom and Stability in Canadian Banking


Conferees examined the history of Canadian and its lessons for our understanding of the relationship between freedom in banking and financial stability.


Conference Readings

Allen, Franklin and Elena Carletti. “Should financial institutions mark-to-market?” Financial Stability Review (October 2008): 1-5.

Bordo, Michael D. and Angela Redish. “Why Did the Bank of Canada Emerge in 1935?” The Journal of Economic History 47, no. 2 (January 1987): 405-417.

Bordo, Michael D., Angela Redish, and Hugh Rockoff. “Why didn’t Canada have a Banking Crisis in 2008 (or in 1930, or 1907, or …).” The Economic History Review 68, no. 1 (2015): 218-243.

Calomiris, Charles and Stephen Haber. Fragile by Design: The Political Origins of Banking Crises and Scarce Credit. Oxfordshire: Princeton University Press, 2014.

Carr, Jack, Frank Mathewson, and Neil Quigley. “Stability in the Absence of Deposit Insurance: The Canadian Banking System, 1890-1966.” Journal of Money, Credit, and Banking 27, no. 4 (November 1995): 1137-1158.

Courtney, John and Pietro Nivola. “Know Thy Neighbor: What Canada Can Tell Us About Financial Regulation.” Brookings Report (April 2009): 1-6.

Gould, Ellen. “Nobody’s Poster Child: Why the ’Canadian Model’ Cannot Be Used to Promote Financial Liberalization at the World Trade Organization.” Briefing Paper (July 2010): 1-10.

Haltom, Renee. “Why was Canada Exempt from Financial Crises?” Econ Focus (Fourth Quarter 2013): 22-25.

Kryzanowski, Lawrence and Gordon S. Roberts. “Canadian Banking Solvency, 1922-1940.” Journal of Money, Credit, and Banking 25, no. 3 (August 1993): 361-376.

Laidler, David. “Free Banking and the Bank of Canada.” Bank of Canada (Winter 2005): 15-24.

MacGee, James. “Why Didn’t Canada’s Housing Market Go Bust?” Economic Commentary (September 2009): 1-5.

MacPherson, D. L. A letter to the Honorable John Rose, minister of finance, Canada, on the subject of banking and currency. Toronto: E. T. Bromfield & Co., 1869.

Plumptre, A. F. W. Central Banking in the British Dominions. Toronto: University of Toronto Press, 1947.

Root, L. Carroll. “Canadian Bank-Note Currency.” Sound Currency 2, no. 2 (December 15, 1894): 2-16.

Schuler, Kurt., “Free Banking in Canada.” In The Experience of Free Banking, edited by Kevin Dowd, 79-92. London: Routledge, 1992.

Selgin, George. “New York’s Bank: The National Monetary Commission and the Founding of the Fed.” Policy Analysis (June 2016): 1-40.

Smith, Andrew. “Continental Divide: The Canadian Banking and Currency Laws of 1871 in the Mirror of the United States.” Enterprise & Society 13, no. 3 (September 2012): 455-503.

Wicker, Elmus. The Great Debate on Banking Reform: Nelson Aldrich and the Origins of the Fed. Columbus: Ohio State University Press, 2005.