Passports, Politics and Path Dependency: Comments on Anand and Klein "Inefficiency and Path Dependency In Canada's Securities Regulatory System: Towards a Reform Agenda"
Bibliographic record
Abstract
The argument of this thought-provoking paper is that Canada's system of securities regulation is inefficient in various ways, particularly with respect to the costs involved for market participants in using it. Further, the primary reason for this inefficiency has to do with features of the way the system is structured. The specific path dependent elements of the system that are causing inefficiency and blocking convergence to national or international regimes of regulation are (i) the legacy of Canadian constitutional jurisprudence that has accorded primacy to the provincial role in the regulation of securities markets and (ii) philosophical and institutional differences in the approach to regulation by individual provincial regulators.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.009 | 0.022 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.004 |
| Science and technology studies | 0.020 | 0.037 |
| Scholarly communication | 0.013 | 0.010 |
| Open science | 0.006 | 0.004 |
| Research integrity | 0.023 | 0.015 |
| Insufficient payload (model declined to judge) | 0.004 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".