Cool Canada: A Case of Low Market-Based Banking in the Anglo-Saxon World
Bibliographic record
Abstract
Faced with the world’s worst financial crisis since the Great Depression, Canada remained an oasis of relative financial stability while Europe and the United States succumbed to the pressures of rapidly depreciating assets, indebtedness and frozen credit markets. In the context of this volume’s argument, the explanation for this admirable performance by the Canadian banking system rests squarely on its low exposure to market-based activities, both on the asset and liability sides of the balance sheet. Why does Canada have a banking system that is less market based than one might expect given its liberal market economy? The relatively low level of market-based banking in Canada is a result of, on the one hand, a concentrated banking sector protected from competition and, on the other hand, a relatively tougher regulatory system in terms of capital and leverage requirements. In making stability in the banking system a policy priority, the Canadian government ended up, more by accident rather than by design, slowing the growth of volatile market-based banking in Canada in favour of traditional banking activities that tend to be less risky in nature.
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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 | 0.000 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.004 |
| Science and technology studies | 0.021 | 0.006 |
| Scholarly communication | 0.006 | 0.001 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.003 | 0.004 |
| Insufficient payload (model declined to judge) | 0.005 | 0.000 |
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".