Recent Productivity Trends in Canada: Navigating the Twin Transitions of Green and Digitalization

Canada, like other countries, is undergoing an economic transformation as a result of the green and digital transitions. These megatrends create new challenges and opportunities for productivity growth. The green transition could place downward pressure on productivity growth given the current struc...

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Bibliographic Details
Published inInternational productivity monitor no. 45; pp. 93 - 119
Main Authors Barr, Jonathan, Foltin, Peter, Tang, Jianmin
Format Journal Article
LanguageEnglish
Published Ottawa Centre for the Study of Living Standards 01.10.2023
Subjects
Adaptation
Consumers
Consumption
Digital technology
Digitization
Economic crisis
Efficiency
Emission standards
Emissions
Environmental regulations
Global economy
Greenhouse gases
Industrialized nations
International finance
Manufacturing
Productivity
Technology adoption
Transitions
Trends
Canada
United States > US
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Summary:Canada, like other countries, is undergoing an economic transformation as a result of the green and digital transitions. These megatrends create new challenges and opportunities for productivity growth. The green transition could place downward pressure on productivity growth given the current structure of the Canadian economy. That said, the Porter Hypothesis posits that well-formulated environmental regulations can actually spur innovation, which can in turn stimulate productivity. Canada's ICT and digitally intensive sectors have seen strong productivity growth since 2000, but Canada's overall performance in digitally- and R&D-intensive sectors trails other G7 countries. Embracing emerging clean and digital technologies and helping small and medium-sized business adopt them remain important issues to help unlock new productivity opportunities in Canada.
ISSN:1492-9759
1492-9767