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Insights from Latin America for Canada: A Review Article on The Age of Productivity: Transforming Economies from the Bottom Up

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  • Someshwar Rao

Abstract

This review article assesses the edited volume The Age of Productivity: Transforming Economies from the Bottom Up, which addresses the productivity challenges facing Latin America and the Caribbean. The main message of the volume is that a low level of total factor productivity (TFP) and slow TFP growth account for the region's large and growing income gaps relative to developed economies and the emerging East Asian economies. High trade costs, a large credit gap, a complex and ineffective tax system, unintended consequences of SME support programs and social policies, and a large innovation deficit are identified as largely responsible for the region's productivity problems. Given that Canada's productivity challenge is similar to that of Latin America, the article discusses possible policy lessons for Canada from the region's experience.

Suggested Citation

  • Someshwar Rao, 2011. "Insights from Latin America for Canada: A Review Article on The Age of Productivity: Transforming Economies from the Bottom Up," International Productivity Monitor, Centre for the Study of Living Standards, vol. 21, pages 70-81, Spring.
    • Handle: RePEc:sls:ipmsls:v:21:y:2011:4
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    File URL: http://www.csls.ca/ipm/21/IPM-21-Rao.pdf
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    References listed on IDEAS

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    1. Marcel P. Timmer & Robert Inklaar & Mary O'Mahony & Bart van Ark, 2011. "Productivity and Economic Growth in Europe: A Comparative Industry Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 21, pages 3-23, Spring.
    2. Ian Currie, 2011. "Government Policies to Encourage University-Business Research Collaboration in Canada: Lessons from the US, the UK and Australia," CSLS Research Reports 2011-02, Centre for the Study of Living Standards.
    3. Mika Maliranta & Petri Rouvinen & Pekka Ylä-Anttila, 2010. "Finland’s Path to the Global Productivity Frontier through Creative Destruction," International Productivity Monitor, Centre for the Study of Living Standards, vol. 20, pages 68-84, Fall.
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    5. John R. Baldwin & Wulong Gu, 2006. "Plant turnover and productivity growth in Canadian manufacturing," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 15(3), pages 417-465, June.
    6. Someshwar Rao & Jianmin Tang & Weimin Wang, 2008. "What Explains the Canada-US Labour Productivity Gap?," Canadian Public Policy, University of Toronto Press, vol. 34(2), pages 163-192, June.
    7. John R. Baldwin & Ron S. Jarmin & Jianmin Tang, 2004. "Small North American Producers Give Ground in the 1990s," Small Business Economics, Springer, vol. 23(4), pages 349-361, November.
    8. John R. Baldwin & Wulong Gu, 2006. "Plant turnover and productivity growth in Canadian manufacturing," Industrial and Corporate Change, Oxford University Press, vol. 15(3), pages 417-465, June.
    9. John R. Baldwin & Wulong Gu, 2011. "Firm dynamics and productivity growth: a comparison of the retail trade and manufacturing sectors," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 20(2), pages 367-395, April.
    10. Baldwin, John R., 2007. "Productivity Performance in Canada, 1961 to 2005," The Canadian Productivity Review 2007011e, Statistics Canada, Economic Analysis Division.
    11. Danny Leung & Césaire Meh & Yaz Terajima, 2008. "Firm Size and Productivity," Staff Working Papers 08-45, Bank of Canada.
    12. Baldwin, John R. Gu, Wulong, 2009. "Productivity Performance in Canada, 1961 to 2008: An Update on Long-term Trends," The Canadian Productivity Review 2009025e, Statistics Canada, Economic Analysis Division.
    13. Jianmin Tang & Someshwar Rao & Min Li, 2010. "Sensitivity of Capital Stock and Multifactor Productivity Estimates to Depreciation Assumptions: A Canada-U.S. Comparison," International Productivity Monitor, Centre for the Study of Living Standards, vol. 20, pages 22-47, Fall.
    14. Andrew Sharpe & Eric Thomson, 2010. "Insights into Canada’s Abysmal Post-2000 Productivity Performance from Decompositions of Labour Productivity Growth by Industry and Province," International Productivity Monitor, Centre for the Study of Living Standards, vol. 20, pages 48-67, Fall.
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    More about this item

    Keywords

    total factor productivity; growth; Latin America; Caribbean; Canada;
    All these keywords.

    JEL classification:

    • Y30 - Miscellaneous Categories - - Book Reviews - - - Book Reviews
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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