Canada’s innovation tool box should contain more applied research
While Canada’s productivity indicators have long been lacklustre, the urgency of addressing persistently sluggish economic performance has only recently made headlines.
What we’ve known for some time — that small businesses are relatively slow to adopt new technology, that skill mismatches diminish performance and impede growth — is no longer a conversation confined to economists and central bankers.
With poor productivity performance, quality of life in Canada is being eroded and policymakers urgently need effective solutions. Past federal measures introduced to boost innovation and productivity have been disappointing or delayed, failing to generate promised results. Productivity indicators continue to lag those of peer countries.
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