The new international banking
DOI:
https://doi.org/10.13133/2037-3643/10780Keywords:
Canadian banks, regulation, taxation, Bank of CanadaAbstract
A review and analysis of the growing involvement of Canadian banks in international lending. The type of activities engaged in and the causes of this growth in business are studied, in addition to their general welfare effects. It is concluded that both developments in technology and a desire to escape Canadian regulations and taxation have caused this growth. It is argued that resultant inefficiencies have entered banking practice, which should be rectified by the payment of interest on banks' compulsory reserves with the Bank of Canada.
JEL: F30, G21, G28
References
Bank Proli/s, A Report by the Standing Committee 00 Finance, Trade and Economie Affairs,
Ottawa: Queen's Printer for Canada, 1982.
BARZEL, Y., "AnAlternativeApproach to the Analysis ofTaxation",].P.E., 1976.
CLENDENNING, E.W., The Euro-Curreney Markets and the Internationa! Activities 01 Canadian
Banks, Ottawa: Economie CouncilofCanada, 1976.
DEAN,].W. and GRUBEL, H.G., "MultinationalCanaclianBanking: 1t5 Nature, Growth and Effects
Welfare", Vancouver, B.e.: Simon Fraser University Discussioo paper, 1976.
DoNALDSON, T.H., Internalional Lending by Commercial Banks, New YarIe: J. Wiley, 1979.
DuFEY, G. and GIDDY, L, The InternationalMoney Market, NewJersey: Prentice Hall, 1978.
The Economist, "The Crash oE 198?: Banks Feel the Earth Move under their Feet", Oct. 16, 1982,
p.23-26.
GRUBEL, H.G., "A Theory ofMultinational Banking", in this Review, Dee. 1977.
GRUBEL, H.G., "Towards a Theory of Free Economic Zones", Weltwirtscha/tliches Archiv, 1,
GRUBEL, H.G., "Is There an Important Role far an International Reserve Asset such as the SDRs?"
Commeot 00 a paper by W.M. Cordeo at the 1983 IMF Confereoce on the Future of the
International Monetary System, forthconring.
HAr.L, RoBERT E., "Friedman and Schwartz' Monetary Trends - Three Views: ANeo-Chicagoan
View",]. o/Econ. Liter., 4, 20, Dec. 1982.
HAYEK, FRrEDRICH VON, Denationalization oj Money, Hobart Paper Spedal No. 70, Institute of
Economie Affairs, Loodon, 1976.
JOHNSTON, RB., The Economics o/the Euro-Market, NewYork: Sto Martin's Press, 1982.
KANE, D.R, The EurodollarMarketand the Yearso/Crisis, NewYork: St. Martin's Press, 1983.
KHOURY, S.J., Dynamics o/International Banking, New York: Praeger; 1980.
KrNDLEBERGER, c.P., "The Formation of Finandal Centers: A Study in Comt>arative History",
Princeton: Studies in International Finance, No.3, 1974.
MENnELSOHN, M.S., Money on the Move, New York: McGraw-Hill, 1980.
MTCHELL, D.W., "The Effects of Interest-Bearing Required Reserves 00 Baule Portfolio
Riskiness",]. o/Fin. and Quant. A1zalysis, June 1982.
RuGMAN, A.M., International Diversi/ication and the Multinational Enterprise, Lexington, Mass.:
D.C. Heath, 1979.
TOEIN, J., "Towards Improving the Effideocy of the Monetary Mechanism", Rev. o/ Econ. and
Stat., Aug. 1960.
Downloads
Published
How to Cite
Issue
Section
License
