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ViewPoint: Canada Should Establish an Equitable Growth Institute

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  • Don Drummond

Abstract

Canada faces serious economic challenges and needs strategic policy advice to succeed. Productivity growth must rise from the mediocre trend of recent decades. The spoils of growth should be more evenly distributed. As a carbon-intensive economy, the adjustment to net zero emissions will require fundamental change. The Government of Canada has benefited from advice from occasional advisory groups, but it has been decades since there has been a comprehensive, multi-year policy research effort. The time has come to establish an Equitable Growth Institute. It should align with the objectives of the Government but have sufficient independence to tackle tough issues. Provinces and territories must be involved as they hold many of the policy levers. In addition to having its own governance structure and researchers, it should bring together and where appropriate create networks of researchers. The Institute should delve into big questions of the day, including whether and how a Quality of Life framework can inform decision-making and whether there are tradeoffs or complementarity between economic growth and equity and sustainability objectives.

Suggested Citation

  • Don Drummond, 2021. "ViewPoint: Canada Should Establish an Equitable Growth Institute," International Productivity Monitor, Centre for the Study of Living Standards, vol. 40, pages 105-117, Spring.
    • Handle: RePEc:sls:ipmsls:v:40:y:2021:5
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    File URL: http://www.csls.ca/ipm/40/IPM_40_Drummond.pdf
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    References listed on IDEAS

    as
    1. William B.P. Robson, 2019. "Thin Capitalization: Weak Business Investment Undermines Canadian Workers," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 550, August.
    2. Andrew Sharpe, Myeongwan Kim, 2017. "The Contribution of Métis To Future Labour Force Growth In Canada," CSLS Research Reports 2017-08, Centre for the Study of Living Standards.
    3. Don Drummond, 2020. "The World Bank Perspective on Productivity: A Review Article on "Productivity Revisited: Shifting Paradigms in Analysis and Policy"," International Productivity Monitor, Centre for the Study of Living Standards, vol. 38, pages 136-144, Spring.
    4. Don Drummond, Andrew Sharpe, Alexander Murray and Nicolas Mask, 2017. "The Contribution of Aboriginal People To Future Labour Force Growth In Canada," CSLS Research Reports 2017-07, Centre for the Study of Living Standards.
    5. Don Drummond, 2011. "Confessions of a Serial Productivity Researcher," International Productivity Monitor, Centre for the Study of Living Standards, vol. 22, pages 3-10, Fall.
    6. Kimberly Wong, 2020. "The Improved Labour Market Performance of New Immigrants to Canada, 2006-2019," CSLS Research Reports 2020-03, Centre for the Study of Living Standards.
    7. Don Drummond & Evan Capeluck, 2015. "Long-term Fiscal and Economic Projections for Canada and the Provinces and Territories, 2014-2038," CSLS Research Reports 2015-08, Centre for the Study of Living Standards.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    canada; policy; equitable growth;
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