Abstract
This article examines Canada's contributions to the governance of global finance in the past and explores what they are likely to be in the future. First, it begins with an examination of global finance: what it is, why it matters, and how it is transforming. Second, from the adoption of the Bretton Woods system to the present day, Canada has made substantial contributions to the development of a resilient and functional, if imperfect, financial system. Although Canadians (and Canada) have relatively little power in conventional terms, the article explores why they have substantial resources, both technical and political, to model behaviour, frame and reframe issues, participate in institutions, and create new institutional structures that shape global financial governance. The present and future of Canadian involvement in global finance is examined. Canada's role as a facilitator of political interaction on these issues will be a welcome and constructive resource in the future as the challenges posed by rapid transformation and innovation in global finance (as well as the failures of easy answers to contain these forces) become increasingly apparent.
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