VANCOUVER, British Columbia, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Over the last business cycle (2007 to 2019), and long before the COVID-19 pandemic struck, Canada was already underperforming other advanced countries on important investment, employment and productivity measures that are key to higher living standards, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“It may be tempting for policymakers to blame Canada’s poor economic performance on the COVID pandemic and all the disruptions it caused, but the truth is Canada has been underperforming its international peers in important ways for many years,” said Jason Clemens, executive vice president of the Fraser Institute.
The study, A Comparative Analysis of the Economic Performance of Canada and Its OECD Competitors, 2007-2019, finds that Canada performed poorly on a number of important investment, employment and productivity indicators when compared to other high-income developed countries in the Organization for Economic Cooperation and Development (OECD). For example:
“Canada’s relative underperformance, whether measured as growth in living standards, attracting investment, or the performance of the labour market, started more than a decade ago and is actually worsening,” Clemens said.
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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org