Profit Differentials Between Canadian and U.S. Commercial Banks: the Role of Regulation
利用1929年至1989年美加银行数据，发现加拿大较宽松的监管环境（如更高杠杆、更多证券投资和贷款机会、自由设立分行）显著提升了银行利润，美国银行若采用类似监管也会更盈利。
Using annual data on nationally chartered U.S. and Canadian banks from 1929 to 1989, this article empirically evaluates the impact of various regulations on bank profitability. An intercountry comparison reveals that the less restrictive regulatory environment in Canada has historically resulted in higher bank profits. Specifically, higher leverage, greater securities investment and lending opportunities, and the freedom to establish branch units all significantly contribute to higher bank profitability in Canada. Evidence presented also shows that U.S. banks would have been more profitable over the sample period in a regulatory environment similar to Canada's.