Front Matter

Front Matter Page

IMF Country Report No. 17/211

CANADA

SELECTED ISSUES AND ANALYTICAL NOTES

July 2017

This Selected Issues paper on Canada was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on June 21, 2017.

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Front Matter Page

CANADA

SELECTED ISSUES AND ANALYTICAL NOTES

June 21, 2017

Approved By

Western Hemisphere Department

Prepared by Kotaro Ishi, Rodrigo Mariscal, Yulia Ustyugova (all WHD), David Gentry (FAD), and Zsofia Arvai (MCM)

Contents

  • INFRASTRUCTURE BANK: LEVERAGING PRIVATE CAPITAL IN THE PUBLIC INTEREST

  • A. Introduction

  • B. Attracting Private Capital

  • C. Effects on Public Finance

  • D. CIB Project and Investor Selection

  • E. Comparative Advantages of the CIB

  • F. Possible Public Concerns

  • G. Conclusions

  • BOX

  • 1. Social Versus Financial Returns to Investment

  • ESTIMATING THE GROWTH EFFECT OF PUBLIC INFRASTRUCTURE: EVIDENCE FROM CANADIAN PROVINCES

  • A. Introduction

  • B. The Size of the Problem

  • C. Policy Considerations

  • D. Empirics

  • E. Conclusion

  • References

  • ANNEX

  • I. Data Description

  • TABLES

  • 1. Global Competitiveness Index

  • 2. Regression Results

  • 3. Testing Complementarity of Public Infrastructure and Private Capital

  • FIGURES

  • 1. Economic Infrastructure Assets and Investment

  • 2. General Government Economic Infrastructure Assets

  • 3. Growth of Infrastructure and Provincial GDP, 1961-2015

  • 4. Marginal Product of Capital

  • HOW ADVANCED ECONOMIES TACKLE HOUSING MARKET IMBALANCES: LESSONS FOR CANADA

  • A. Introduction

  • B. Australia and New Zealand

  • C. United Kingdom

  • D. Hong Kong SAR and Singapore

  • E. Conclusion

  • References

  • TABLES

  • 1. Housing Affordability Ratings by Country: Major Housing Markets

  • 2. United Kingdom: Stamp Duty Rates for Property Transactions

  • FIGURE

  • 1. Selected Countries: Trends in Real House Prices and Household Debt

  • MACROPRUDENTIAL TOOLS AT WORK IN CANADA

  • A. Assessing the Effectiveness of Macroprudential Measures in Canada

  • B. International Experience

  • C. Conclusion

  • References

  • TABLE

  • 1. Canada: Macroprudential Measures Related to Changes in Mortgage Insurance Rules Since 2008

  • ANNEX

  • I. Annex Tables

Canada: Selected Issues and Analytical Notes
Author: International Monetary Fund. Western Hemisphere Dept.