The Long-term Outlook for Productivity and Per Capita Income Growth for Canada: A Comparison with Selected G-20 Countries

Peter Jarrett ()

International Productivity Monitor, 2012, vol. 24, 85-96

Abstract: This paper describes a possible long-run scenario for selected OECD and major emerging market economies. It compares outcomes for Canada against these countries' performance in a variety of dimensions that together determine productivity and output growth based on a production-function approach. It concludes that Canada should enjoy reasonable productivity and output growth in the coming half century, despite the less favourable outlook for the age structure of the population. It goes on to suggest three areas where policymakers should focus their attention: seeking more vigorous product market competition; reforming the tax system with a view to removing unnecessary distortions and emphasising the importance of tertiary education and innovation across a broad range of policy areas. It finishes with a call for the establishment of a publicly funded productivity commission, to assess existing policies and proposed changes through a productivity, innovation and competitiveness lens.

Date: 2012
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