Abstract
Global finance plays a key role in our current global order, as it has in previous orders. Global finance was a leading edge of globalization in the decades following World War II, but also contributed to recurring crises. This chapter focuses on Canada’s role in the cross-border governance and regulatory arrangements for private financial flows that have been constructed through these decades of financial globalization. We highlight the ongoing role of Canada as a mediator and builder of these arrangements, and the resilience of these arrangements despite the challenges that the global order is experiencing. We analyse two of the most important current global financial governance challenges, the impact of digitization, and the role of private finance in climate change, showing the continuities in the arrangements for responding to these challenges and Canada’s role in them, and the urgency of doing so.
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Notes
- 1.
Suptech refers to the use of technology for regulatory, supervisory, and oversight purposes and regtech refers to the use of technology to satisfy regulatory and compliance requirements.
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The authors gratefully acknowledge insights provided by officials and by the editors and other authors in this volume that informed the content of this chapter. We interviewed several officials, all of whom wished to remain anonymous.
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Porter, T., Sheluchin, A. (2022). Canada and Global Financial Governance in a Troubled Global Order. In: Carment, D., Macdonald, L., Paltiel, J. (eds) Canada and Great Power Competition. Canada and International Affairs. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-04368-0_6
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