목차
Title page 1
Contents 3
Executive summary 4
1. Introduction 5
2. Background 8
3. Empirical Results and Discussions 16
3.1. Specification and data 16
3.2. Empirical results 19
3.3. Sensitivity analysis 23
4. Policy Implications 27
5. Conclusions 30
Appendix 1. Additional Results 31
Appendix 2. Notes on Labour Productivity Data Comparisons 33
References 35
About the Author 40
Acknowledgments 40
Publishing Information 41
About the Fraser Institute 42
Editorial Advisory Board 43
Tables 18
Table 1. Basic summary statistics for key variables, 1980-2023 18
Table 2. Public debt and the growth of productivity, Canada, 1980-2023 20
Table 3. Sensitivity Analysis, 1980-2023 24
Figures 9
Figure 1. Trends in labour productivity in Canada and the United States, 1998-2023 9
Figure 2. Average growth rates of labour productivity in Canada and the United States, various periods, 1981-2023 10
Figure 3. Labour productivity ($US per hour) in OECD countries, 2023 11
Figure 4. Ratio of general government gross debt to GDP, Canada, 1980-2023 13
Figure 5. Percentage-point increase in the ratio of general government debt to GDP as a result of the COVID-19 pandemic, Canada, G7, and other countries, 2020 13
Figure 6. Ratio of general government gross debt to GDP, Canada and other advanced countries, 2023 14
Figure 7. Effect of reductions in general government debt on labour productivity ($ per hour worked; 2017$), 2021-2029 29
Appendix Tables 31
Table A1.1. Data descriptions and sources 31
Table A1.2. Unit-root tests, 1980-2023 32
Table A2.1. Public debt and productivity using different datasets, 1997-2023 34
Appendix Figures 33
Figure A2.1. Growth rates of labour productivity as computed from alternative data sources, 1998-2023 33
