.35 The Lay of the Land: Prospects for Improving Financial Competitiveness1 Mark Huson and Randall Morck EXECUTIVE SUMMARY Alberta’s financial sector has not grown to match the province’s overall rise in economic importance to Canada. [...] The more accurately the financial system allocates savers’ wealth, the faster standards of living, government tax bases and GDP can rise. [...] 1 Other governments seek to boost economic activity by “regulatory arbitrage” — that is, adopting laws and regulations that help firms avoid the laws and regulations of other jurisdictions. [...] state of Delaware has tailored its financial regulations, tax laws and other laws and regulations to gain revenue from incorporation and other business fees. [...] This often ends badly, as when Forbes magazine labelled the BC stock exchange the “scam capital of North America.” Small stock issuers had liked the BCSE’s lax regulations, but investors did not and the failing exchange was folded first into the Alberta Stock Exchange and later into the TSE Venture exchange.
Mentioned Organizations
- Pages
- 37
- Published in
- Canada
