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The Role of the Bank of Canada and the Government of Canada in Running the Economy - Case Study Example

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The paper identifies and evaluates the role of the Bank of Canada and the government of Canada is running the economy. In addition, the paper strives to converse about different economic changes brought in by these two contributors and runners of the Canadian economy…
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The Role of the Bank of Canada and the Government of Canada in Running the Economy
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Download file to see previous pages In specific, Canada has also been one of the sufferers of economic recession and experts have specified that although there have been adverse effects of economic recession, however, Canadian authorities were very effective in overcoming issues and challenges, and thus, were and still are successful in running the Canadian economy in an efficient manner, especially since the past 2-3 years.

While the Canadian government received applause from the economic analysts, they had to confront criticism from some experts as well, as they criticized that while running the economic matters of the country, authorities and especially the Bank of Canada have shown ineffectiveness and uselessness. While comparing the performance of the Canadian government with G7 states, its graph is going down, and it is imperative that the government with the collaboration of the Bank of Canada should take crucial steps to avoid the downfall that will result in an adverse impact on different sectors of the country. 

Due to the wave of globalization, and most importantly, economic recession, economists are suggesting governments and banking sectors to introduce policies that may complement the global scenario of economic development rather than limiting to the only regional economic development of the country. Studies related to the role of the Canadian government have indicated that since the past 2-3 years,
the government along with collaboration of the Bank of Canada has created their macro-economic policies on the same track, and the Canadian government is still endeavoring to introduce policies that may consider global needs and issues rather than needs of only Canadian citizens. Although it may sound inappropriate, however, on a long-term basis, such policies will enable the country to develop more significantly on the economic scale while handling the issues on a global level. A number of experts have been involved in the comparison of performances of the Canadian government with the American government in terms of running economic matters of the country. ...Download file to see next pages Read More
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