But it did not, because of the three factors I listed above. A major shift in a country’s terms-of-trade is one of the most complex situations an economic forecaster can face. We have said from the beginning that while there would be both negative and positive effects from lower oil prices on Canada, the negative effects would dominate, and they would come first.
In fact, the barriers to cross-border capital movements have increasingly been lifted as a result of political measures and technological advances. 1  BIS Review 80/2000  The global integration of the financial markets is anything but an end in itself. Not only does it open up to investors a broad new range of investment opportunities for diversifying portfolio risks.