Grappling with Provincial Debts and Deficits
32 Pages Posted: 14 Nov 2016
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 In this previously unpublished update to my 2012 analysis of Canadian provincial default risks, I compare fiscal conditions in Ontario and Québec with those of Puerto Rico and neighboring US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: Suggested Citation