Honours Theses, Academic Year of 2016-17
Year: |
2016-17 | |
Student Name: |
William Kluska | |
Title: |
Effects of Government Legislation and Regulation of Payday Loans in Canada: An Economic Analysis |
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Supervisor: |
Dr. Andrew Davis | |
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Year: |
2016-17 | |
Student Name: |
Fiona McGuinty | |
Title: |
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Supervisor: |
Dr. Andrew Davis | |
The current fish and seafood industry in Nova Scotia is subject to various free trade agreements (FTAs) that have significantly reduced tariffs for these exported goods to other countries. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) promises to reduce tariffs in a similar fashion for many products, including fish and seafood. As a top priority for Prime Minister Justin Trudeau when he came into office in 2015, CETA has been a popular topic of discussions on international trade and economic sustainability. As the EU is a major trade partner for Canada, its effects may be slightly different than other trade agreements, especially at the provincial level. In terms of value, Nova Scotia currently exports the most fish and seafood products internationally out of all Canadian provinces and territories. Furthermore, as the European Union is the second largest importer of fish and seafood in the world, it thus evidently presents itself as a valuable trading partner for Canada, and especially for Nova Scotia. However, despite the many benefits of a trade agreement with the EU, the depletion of stocks and the increasing difficulties faced by both wild and farmed fish and seafood industries pose a threat to the long-term sustainability of CETA.The delicate nature of the fish and seafood industry, as well as its unpredictable volatility makes it difficult to grasp the future effects of CETA on Nova Scotia. This study examines current trade agreements and their effectiveness on the province, as well as past stock records to determine whether CETA will in fact be beneficial or will cause further depletion and environmental damage. CETA’s impacts will be approximated using estimates for current landings, as well as existing quotas for Nova Scotia’s top export species affected by this trade agreement’s tariff reductions. Overall, CETA’s implementation will have some benefits for both provincial Gross Domestic Product (GDP) and provincial employment, however relatively small in comparison to the existing 1.6 billion dollars in export revenue from fish and seafood in Nova Scotia in 2015.
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