Canadian productivity growth: Stuck in the oil sands

IF 1.3 4区经济学 Q3 ECONOMICS

Canadian Journal of Economics-Revue Canadienne D Economique Pub Date : 2024-04-11 DOI:10.1111/caje.12707

Oliver Loertscher, Pau S. Pujolas

引用次数: 0

Abstract

We study the behaviour of Canadian Total Factor Productivity (TFP) growth over the past 60 years. We find that the observed stagnation during the last 20 years is accounted for entirely by the oil sector. Higher oil prices made capital-intensive sources of oil like the oil sands viable to extract on a commercial scale. However, the greater input required per barrel of oil slowed TFP growth. Comparing Canadian TFP growth with that of the United States and Norway reinforces these results. However, our result should not be interpreted to carry any welfare implications.

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加拿大生产力的增长：受困于油砂

我们研究了过去 60 年加拿大全要素生产率（TFP）的增长情况。我们发现，在过去 20 年中观察到的停滞完全是由石油部门造成的。石油价格上涨使得油砂等资本密集型石油资源的商业开采变得可行。然而，每桶石油所需的更大投入减缓了全要素生产率的增长。将加拿大的全要素生产率增长与美国和挪威的全要素生产率增长进行比较，可以强化上述结果。然而，我们的结果不应被解释为对福利有任何影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Canadian Journal of Economics-Revue Canadienne D Economique ECONOMICS-

CiteScore

2.20

自引率

6.20%

发文量

期刊介绍： The Canadian Journal of Economics (CJE) is the journal of the Canadian Economics Association (CEA) and is the primary academic economics journal based in Canada. The editors seek to maintain and enhance the position of the CJE as a major, internationally recognized journal and are very receptive to high-quality papers on any economics topic from any source. In addition, the editors recognize the Journal"s role as an important outlet for high-quality empirical papers about the Canadian economy and about Canadian policy issues.