Assessing Toronto's financial services cluster

It generates 17 percent of Fortunately, the importance of its its GDP and continues to be one of the continued health and global competi- region’s, not to mention the country’s, tiveness has attracted the attention of most profitable sectors. [...] Currently the third largest financial Prosperity, at the request of the Toronto hub in North America, measured by Financial Services Alliance (TFSA) employment, and one of the fastest and the Ontario Ministry of Economic growing, it is not immune to growing Development and Trade (MEDT), it competitive pressures from around the seeks to compare the competitive world and here at home. [...] If it is to work such as the Porter model may continue in the face of growing inter- not adequately capture the highly national competition, if Toronto is to be regulated nature of the sector and the one of the pre-eminent financial service impact of government intervention on hubs in North America and among the competitive market forces. [...] Toronto has the third largest region economy than the cluster is to any translation of US industry definitions financial services cluster of the peer other regional economy in North America, using Statistics Canada’s Canadian group, employing 164,200 in the cluster, with the exception of Hartford. [...] An update to the Bank of Canada The lack of Canadian firms in the global these countries through mergers and analysis published in the Canadian securities market is also evident by the acquisitions, only the Netherlands had Journal of Economics finds that banks.