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Canadian Economic History: Post-WWII Recession - Term Paper Example

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Canadian Economic History: Post-WWII Recession Name of the University Name of the Student Course Number Date Table of Contents Table of Contents 2 Introduction 3 Critical Analysis of Literature 3 Key Findings 17 Conclusion 18 References 19 Introduction Canada is a developed country well known all over the world for its high-tech industrial sector…
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Canadian Economic History: Post-WWII Recession
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Download file to see previous pages The researcher would elaborate on the desired topic of discussion on the basis of several academic journals and scholarly references. Then, the researcher would stress on the empirical validation of the literature review. The learnt from the paper would help to analyze the history of the economy of Canada after WWII. WWII The WWII was a global war that had lasted from 1939 to 1945 (CIA, 2013). It is also known as the Second World War. The war took place between the Axis Powers (Germany, Japan and Italy) on one side and the Allies (France, United States, Soviet Union and part of China) on the other. There were various social, political and religious reasons that had caused this historical warfare. However, it would be interesting to note that the war had brought in various changes in the economy of these countries. For instance, there was a hike in the rate of work force participation of women in these economies after the WWII. However, the paper will only consider the economical history of Canada after the incidence of WWII (Graham & Smith, 2013). Critical Analysis of Literature It is always believed by the economists that wars are harmful to the economic system of any country. It is true that the emergence of a war in a country not only drains out its financial reserves but also dampens the economic growth of the nation. This is the reason for which severe wars are always associated with heavy recessions in the global economies. Thus, at the first instance, it can be stated that WWII has caused a severe recession in the economy of Canada (Brian & Vane, 2002). The economy of Canada had faced a blow through the low levels of production, job losses, public budget deficits and bankruptcies after the WWII. Figure 1: Volatile Performance of the Economy of Canada (Source: Yalnizyan, 2009) The economic performance of a nation can be analyzed by the level of its Gross Domestic Product (GDP). It is the value of the final goods and services produced within the domestic territory of a nation. The above graph shows that the GDP of Canada has always shown a steep decline at times of economic recession. Thus, after the recession in the economy of Canada, the gross domestic product of the country had fallen down sharply. This means that all the other national income aggregates of the nation had also dampened at this point of time. About ten years before the WWII, in October 29, 1929, the New York Stock market had crashed suddenly. This had also diminished the performance of the Canadian stock market. The underlying causes for this exponential fall in the share values in the stock markets were: Extensive speculation in the stock prices. Stocks purchased on credit. This is the reason for which the productive business investors in Canada had become highly cautious about investing money in the country. Thus, post-WWII, many risk averse investors did not desire to invest money in the nation for their various types of productive business projects. Figure 2: Falling Private Investments in Canada (Source: Graham & Smith, 2013) The above line graph clearly shows the falling amount of private investments in Canada after WWII. The private investors in the nation became lesser of risk lovers. They feared that the stock value of their invested projects could drastically fall at any point of time. Thus, the increasing uncertainty in the stock ...Download file to see next pagesRead More
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