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A Detailed Analysis of Newfoundland and Labrador's Productivity Performance, 1997-2010: The Impact of the Oil Boom

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  • Andrew Sharpe
  • Etienne Grand'Maison

Abstract

Propelled by the mining and oil and gas sector, Newfoundland and Labrador’s economy experienced impressive growth in the past decade. During the 1997-2010 period, real GDP in the province's business sector increased at nearly twice the rate of Canada's, while the province's labour productivity growth was more than three times greater than Canada's. This report provides a detailed analysis of Newfoundland and Labrador's labour, capital and multifactor productivity performance and the factors behind this performance. It identifies the province’s shift to high-productivity oil extraction activities as the main factor responsible for this remarkable productivity growth while also discussing the positive spill-over effects that this shift has had on Newfoundland and Labrador's economy as a whole.

Suggested Citation

  • Andrew Sharpe & Etienne Grand'Maison, 2013. "A Detailed Analysis of Newfoundland and Labrador's Productivity Performance, 1997-2010: The Impact of the Oil Boom," CSLS Research Reports 2013-05, Centre for the Study of Living Standards.
    • Handle: RePEc:sls:resrep:1301
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    References listed on IDEAS

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    1. Andrew Sharpe & Eric Thomson, 2010. "New Estimates of Labour, Capital and Multifactor Productivity Growth and Levels for Canadian Provinces at the Three-digit NAICS Level, 1997-2007," CSLS Research Reports 2010-06, Centre for the Study of Living Standards.
    2. Andrew Sharpe & Ian Currie, 2008. "Competitive Intensity as Driver of Innovation and Productivity Growth: A Synthesis of the Literature," CSLS Research Reports 2008-03, Centre for the Study of Living Standards.
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    4. Michael-John Almon & Jianmin Tang, 2011. "Industrial Structural Change and the Post-2000 Output and Productivity Growth Slowdown: A Canada-U.S. Comparison," International Productivity Monitor, Centre for the Study of Living Standards, vol. 22, pages 44-81, Fall.
    5. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," Higher School of Economics Economic Journal Экономический журнал Высшей школы экономики, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 5(1), pages 3-34.
    6. Andrew Sharpe & Jean-François Arsenault & Daniel Ershov, 2007. "The Impact of Interprovincial Migration on Aggregate Output and Labour Productivity in Canada, 1987-2006," CSLS Research Reports 2007-02, Centre for the Study of Living Standards.
    7. Andrew Sharpe, 2006. "The Relationship between ICT Investment and Productivity in the Canadian Economy: A Review of the Evidence," CSLS Research Reports 2006-05, Centre for the Study of Living Standards.
    8. Carol Corrado & John Haltiwanger & Daniel Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1.
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    Cited by:

    1. Matthew Calver and Alexander Murray, 2016. "Decomposing Multifactor Productivity Growth in Canada by Industry and Province, 1997-2014," CSLS Research Reports 2016-19, Centre for the Study of Living Standards.

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