Lane 2012) (Figure 3). The connection with foreign labour markets, enabling migration to swing rapidly in response to pressures and opportunities, is only one lasting and pervasive aspect of Ireland’s deep embeddedness in the global economy. The most conspicuous dimension here is the extent to which the business sector, especially the manufacturing and export services sector is dominated by foreign-owned firms.
The Bank of Canada has been an active participant in several international forums where issues of financial stability are debated. And we have worked closely with other members to develop frameworks for the prevention, management, and resolution of international crises.