Benchmarking Canada's Economic Performance

Jean-Philippe Cotis

International Productivity Monitor, 2006, vol. 13, 3-20

Abstract: While Canada's economic record over the past decade or so is enviable, GDP per capita remains distinctly below US levels, reflecting a sizeable productivity gap. Among the impediments to faster growth are the taxation of capital and restrictive regulations in certain sectors. Canada's experience raises the general question of why it is difficult to implement reforms, even when the barriers to improved performance are known. Peer pressure based on sophisticated benchmarking, as takes place under OECD auspices in the context of the multilateral Going for Growth surveillance, helps overcome some of the political economy hurdles standing in the way of reform. A related issue is whether GDP is a reasonable proxy for well-being, and hence an appropriate metric for policy purposes. It turns out that it is, notwithstanding its shortcomings and even if other indicators need to be considered as well alongside GDP.

Keywords: Canada's economic performance; GDP per capita; Productivity gap; Proxy; Taxation of capital; Restrictive regulations. (search for similar items in EconPapers)
JEL-codes: E01 E61 E62 O40 O47 P52 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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