To ensure that there are real welfare gains, initiatives to open up labour markets would also call for greater harmonization of licensing standards, so that people could actually be employed on both sides of the border. Of course, a good first step in this area would be harmonization of policies and adoption of common licensing standards in labour markets across provinces within Canada!
Canadian and U.S. capital markets are already highly integrated and, as I said earlier, Canadians (and Americans) have benefited greatly from this open, transparent, and competitive market.