Grappling with Provincial Debts and Deficits

32 Pages Posted: 14 Nov 2016

See all articles by Marc D. Joffe

Marc D. Joffe

Public Sector Credit Solutions

Date Written: November 12, 2016


Could a Puerto Rico-style financial crisis hit a Canadian province. In this previously unpublished update to my 2012 analysis of Canadian provincial default risks, I compare fiscal conditions in Ontario and Qu├ębec with those of Puerto Rico and neighboring US states. I also propose the use of cone diagrams to visualize the range of possible fiscal outcomes in Canadian provinces.

Keywords: Quebec, Ontario, Debt, Deficits, Cone Diagrams, Puerto Rico

JEL Classification: G12, G24, H81

Suggested Citation

Joffe, Marc D., Grappling with Provincial Debts and Deficits (November 12, 2016). Available at SSRN: or

Marc D. Joffe (Contact Author)

Public Sector Credit Solutions ( email )

1655 N. California Blvd.
Suite 223
Walnut Creek, CA 94596
United States
14155780558 (Phone)


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