Template-Type: ReDIF-Article 1.0
Author-Name: Mark Huson
Author-Workplace-Name: University of Alberta
Author-Name: Randall Morck
Author-Workplace-Name: University of Alberta
Title: The Lay of the Land: Prospects for Improving Financial Competitiveness
Abstract: Alberta’s financial sector has not grown to match the province’s overall rise in economic importance to Canada. From 1997 to 2022, Alberta’s population rose from 2.5 to 4.5 million and Alberta’s share of GDP rose from 11 per cent in 1997 to 14.9 per cent in 2021. Alberta’s financial sector, 14.7 per cent of Canada’s in 1997 and 15.3 per cent in 2022, barely budged. Alberta may wish to evaluate legal, regulatory, health care, education and other public policy reforms by how they would improve the lay of the land. Policies that attract and retain innovative firms and the skilled workers they need boost productivity growth, the primary determinant of living standards. Alberta may also wish to review laws, policies, regulations and public-sector bureaucracies periodically and eliminate those that do not enhance the lay of the land.
Volume: 17
Issue: 20
Year: 2024
Month: November
File-URL: https://www.policyschool.ca/wp-content/uploads/2024/11/FMK11-FinclComp.HusonMorck-FINAL.pdf
File-Format: Application/pdf
Handle: RePEc:clh:resear:v:17:y:2024:i:20