Canada's Third Option: A Complete Failure?

Gordon Mace and Gerard Hervouet

Canadian Public Policy, 1989, vol. 15, issue 4, 387-404

Abstract: This paper analyzes the diversification aspects of Canada's Third Option strategy from 1968 to 1980. The study examines the federal government's efforts to encourage economic diversification and focuses at the same time on a few dimensions of the private sector's behavior. We analyze the overall evolution and main targets of some strategic federal programs, such as the Promotional Projects Program, the Export Market Development Program and similar programs of the Export Development Corporation. We also analyze private sector behavior through trade relations and direct investment flows. The paper concludes that the Third Option Strategy, in its diversification aspect, was not a failure in the sense that the federal government abandoned its original objectives. It might be called a failure in the sense that the Canadian private sector's follow-up did not materialize partly because of adverse economic conditions.

Date: 1989
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