Natural Resources, the Terms of Trade, and Real Income Growth in Canada: 1870 to 2010 - ARCHIVED

Articles and reports: 11F0027M2012079

Description:

This paper studies the growth of the Canadian resource economy and the contribution of trading gains arising from increasing terms of trade to real income growth from 1870 to 2010. It combines a historical account of the growth of a succession of natural resources--examining both the production and price history of agriculture, forestry, mining, and oil and gas--with an overview of the impact of these developments on Canadian well-being. It uses estimates of the difference between real income and real output growth, based on measurement theory from the System of National Accounts, to measure trading gains that arose from increasing terms of trade over the period.

Issue Number: 2012079
Author(s): Baldwin, John; Macdonald, Ryan
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HTMLApril 23, 2012
PDFApril 23, 2012