Canadian productivity growth: Stuck in the oil sands Journal Articles

abstract

• AbstractWe 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.

authors

• Loertscher, Oliver
• Pujolas Fons, Pau Salvador

status

• published 

publication date

• May 2024

has subject area

• 1401 Economic Theory (FoR)
• 1402 Applied Economics (FoR)
• 1403 Econometrics (FoR)
• Economics (Science Metrix)

published in

• Canadian Journal of Economics, The  Journal

keywords

• BUSINESS SECTOR
• Business & Economics
• ENERGY RETURN
• EROI
• Economics
• PERFORMANCE
• STAGNATION
• Social Sciences

Digital Object Identifier (DOI)

• 10.1111/caje.12707

start page

• 478

end page

• 501

volume

• 57

issue

• 2