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Post-NAFTA Changes in the Financing of Canadian Corporate Activity

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  • Brox, James A.

Abstract

This paper updates the work of Brox and Maclean (1986) and tests for the stability of the model structure with the inclusion of the post-NAFTA data and hence tests whether the increased integration of international trade has led to similar convergence in financial behaviour.

Suggested Citation

  • Brox, James A., 2008. "Post-NAFTA Changes in the Financing of Canadian Corporate Activity," The Journal of Economic Asymmetries, Elsevier, vol. 5(1), pages 65-77.
    • Handle: RePEc:eee:joecas:v:5:y:2008:i:1:p:65-77
    DOI: 10.1016/j.jeca.2008.01.006
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    References listed on IDEAS

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    1. Carr, Jack L. & Floyd, John E., 2002. "Real and monetary shocks to the Canadian dollar: Do Canada and the United States form an optimal currency area?," The North American Journal of Economics and Finance, Elsevier, vol. 13(1), pages 21-39, May.
    2. Brox, James A & Maclean, Wendy A, 1986. "The Financial Behaviour of Canadian Private Corporations and Government Enterprise: A Flow of Funds Analysis," Bulletin of Economic Research, Wiley Blackwell, vol. 38(1), pages 49-66, January.
    3. Cornwall, John M., 1989. "How d = 3 QCD resembles d = 4 QCD," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 158(1), pages 97-110.
    4. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
    5. Ewing, Bradley T. & Payne, James E. & Sowell, Clifford, 1999. "NAFTA and North American stock market linkages: an empirical note," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 443-451.
    6. Murray, John & Schembri, Lawrence & St-Amant, Pierre, 2003. "Revisiting the case for flexible exchange rates in North America," The North American Journal of Economics and Finance, Elsevier, vol. 14(2), pages 207-240, August.
    7. Roley, V Vance, 1983. "Symmetry Restrictions in a System of Financial Asset Demands: Theoretical and Empirical Results," The Review of Economics and Statistics, MIT Press, vol. 65(1), pages 124-130, February.
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    Cited by:

    1. Brox, James A., 2009. "Too Small to Fail: Canadian Banks, Regulation, and the North American Financial Crisis," The Journal of Economic Asymmetries, Elsevier, vol. 6(2), pages 31-46.

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    More about this item

    Keywords

    E47; G32; Flow of funds; Canadian firms;
    All these keywords.

    JEL classification:

    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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