Could a Puerto Rico-style financial crisis hit a Canadian province. In this previously unpublished update to my 2012 analysis of Canadian provincial default risks, I compare fiscal conditions in Ontario and Québec with those of Puerto Rico and neighboring US states. I also propose the use of...

The essays collected for this publication are designed to provide readers and particularly those in Ontario a better sense of where the province's debt stands today, the expectations for the future, and warnings about the likely costs of inaction. Part of the motivation for this publication was...