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Books
Canada After America
For generations, Canada built its prosperity on economic integration with the United States, only to find itself hostage to its nearest neighbor.In Canada After America, economists Ricardo Hausmann and Eric […]
For generations, Canada built its prosperity on economic integration with the United States, only to find itself hostage to its nearest neighbor.
In Canada After America, economists Ricardo Hausmann and Eric Protzer offer a bold, practical strategy for Canadian prosperity in a radically changed world.Drawing on research from the Harvard Growth Lab and the insights of economic complexity, they argue that the answer is not to retreat from globalization, but to become far better at competing in the rest of the world. Canada must get more of its natural resources to global markets while building industries—aerospace, life sciences, technology—that can overcome the tyranny of distance.
It won’t be easy. Despite world-class universities and research, Canada’s private-sector knowledge economy remains stunted. The country has failed to build and sustain large, research-intensive companies and the dynamic cities in which they flourish. It must abandon its “small is beautiful” approach to innovation, remove barriers to growth, and enable its most promising firms to scale.
The rupture with America is a crisis—but also a historic opportunity to build a more innovative, resilient, and globally competitive Canada.
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Upcoming Event
Get to Know the Growth Lab: Research and Student Engagement Showcase
September 16 | 4:30 pm–6:00 pm
Learn more about the Growth Lab’s mission, our academic research and policy engagements, and student opportunities. Following the presentation we’ll move into Allison Dining Room for refreshments. RSVP is required.
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Working Papers
A Change of Denomination: The Case for CPI-Indexed World Bank Lending
This paper asks whether the World Bank can change the denomination of its lending without weakening its own financial position. Using monthly CPI and exchange rate data, we construct the […]
This paper asks whether the World Bank can change the denomination of its lending without weakening its own financial position. Using monthly CPI and exchange rate data, we construct the dollar returns the Bank would earn on loans indexed to borrowers’ domestic inflation and aggregate those returns using current IBRD and IDA portfolio weights. Portfolio returns are less volatile because cross-country correlations are low. The diversification dividend is large enough to make the financially indifferent coupon on a CPI-indexed instrument close to, and in some cases below, current lending rates. The World Bank can reduce one of the core sources of macroeconomic instability in borrowing countries at little or no financial cost to itself. -
Web Articles
Argentina’s second test: can the Milei government deliver lasting growth?
Economics Observatory
President Milei’s stabilisation is delivering results: inflation is down, growth has returned and exports are playing a larger role in the recovery. But Argentina’s second test is harder: turning macroeconomic […]President Milei’s stabilisation is delivering results: inflation is down, growth has returned and exports are playing a larger role in the recovery. But Argentina’s second test is harder: turning macroeconomic stability into investment, jobs and higher real wages before the political clock runs out.
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