In recent years, we have seen a sharp increase in foreign demand for Canadian assets, including bonds issued by Canadian municipalities and provinces. IMFG Post-Doctoral Fellow Kyle Hanniman discusses the factors driving foreign investment in Canada's subnational bond market; the implications of these developments for municipal borrowing costs and credit spreads; and what, if anything, municipalities are doing to manage the risks and opportunities involved.

Lars-Erik Borge presents a talk at IMFG entitled, The Role of Local Governments in a Unitary Welfare State: The Case of Norway. Borge is Professor of Economics at the Norwegian University of Science and Technology in Trondheim. Borge is a former IMFG visiting scholar.

In the second annual Toronto City Manager's Address, City Manager Joe Pennachetti discusses the City's fiscal position and the strategic directions the City must weigh in building an economically vibrant, functional, and inclusive Toronto.

This presentation describes the structural history of school boards, boards of health, and hydro commissions in Ontario. The goal is to understand how and why these institutions have changed over the long term, focusing on how ideas, organized interests, and political opportunities can explain the long-term patterns, timing, and pace of institutional change.

Millennials are changing the face of cities. Educated, diverse and tech-savvy, this highly urbanized generation of ‘teens to thirty-somethings’ is expressing a new set of values about how they want to live, work, and play. Yet, their influx into North America’s cities is also surfacing difficult questions about housing affordability, access to employment, gentrification, and race. As urban demographics and civic values shift, what will the implications be for North America’s cities?

Discussions about urban governance often overlook the role of city residents, concentrating instead on developers, politicians and municipalities. This presentation focuses on the case of a neighbourhood civic movement in Toronto and its residents’ strategies to influence local governance and development.

The shortage of affordable housing is a major problem in Toronto. But little new affordable supply is being built, social housing units require major capital repairs, and provincial and federal finances are tight. In the United States, the private sector plays a greater role in building and rehabilitating affordable housing through tax credits and innovative financing and partnership models. Are there lessons for Ontario?

A growing number of cities are turning to public-private partnerships (P3s) to finance their infrastructure investments. What are the advantages and disadvantages of P3s as a municipal financing model? How do they work? And what role do the federal and provincial governments play?

Can and should Canadian municipalities be borrowing more? If so, what measures and financing models should cities adopt to ensure additional borrowing is cost-effective and responsible?

As we count down to the Toronto 2015 Pan Am/Para-Pan Am Games, what are the lessons from other cities which welcomed the world? How can new venues and infrastructure be planned to maximize community benefits and reduce disruption? What happens after the big event?