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Investment in Machinery and Equipment is Essential to Canada's Future

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Author Info

  • Kevin Girdharry

    ()
    (Certified General Accountants Association of Canada)

  • Elena Simonova

    ()
    (Certified General Accountants Association of Canada)

  • Rock Lefebvre

    ()
    (Certified General Accountants Association of Canada)

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    Abstract

    Machinery and equipment (M&E) is one of the imperative factors that influence Canada’s living standards. M&E investment and development is vital for long-term productivity growth. Despite Canada’s resilience to the global financial crisis, it is still vulnerable to weak future growth due to lingering economic frailties such as low productivity. Canada trails in investment and adoption of information and communications technology (ICT), a sub-group of M&E and the foundation for technological advancement in today’s digital world, compared to a number of advanced economies. Our findings indicate lower investment in ICT combined with lower competition, lower spending in R&D, and barriers to foreign direct investment to be significant factors to Canada’s low productivity. To ensure that sustainable living standards are attained in the future, Canada will need to improve its productivity level, and increasing investment in M&E is an important part of it.

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    File URL: http://ideas.cga-canada.org/WorkingPapers/120401.pdf
    File Function: First version, 2012
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    Bibliographic Info

    Paper provided by Certified General Accountants Association of Canada in its series Working Papers with number 120401.

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    Length: 26 pages
    Date of creation: Apr 2012
    Date of revision:
    Handle: RePEc:cga:wpaper:120401

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    Related research

    Keywords: Machinery and Equipment; Productivity; ICT; Investment in M&E; Foreign Direct Investment;

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    1. Tiff Macklem, 2003. "Future Productivity Growth in Canada: Comparing to the United States," International Productivity Monitor, Centre for the Study of Living Standards, vol. 7, pages 50-57, Fall.
    2. Someshwar Rao & Jianmin Tang & Weimin Wang, 2002. "The Importance of Skills for Innovation and Productivity," International Productivity Monitor, Centre for the Study of Living Standards, vol. 4, pages 15-26, Spring.
    3. Gu, Wulong & Baldwin, John R., 2009. "Productivity Performance in Canada, 1961 to 2008: An Update on Long-term Trends," The Canadian Productivity Review 2009025e, Statistics Canada, Economic Analysis.
    4. Andrew Sharpe, 2005. "What Explains the Canada-US ICT Investment Gap?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 11, pages 21-38, Fall.
    5. Sang Nguyen & B.K. Atrostic, 2005. "Computer Investment, Computer Networks and Productivity," Working Papers 05-01, Center for Economic Studies, U.S. Census Bureau.
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