1、The Weakness of Corporate Investment in Canada,20012021 Identification and Assessment2024Steven Globerman2024Fraser InstituteThe Weakness of Corporate Investment in Canada,20012021Identification and AssessmentSteven Globermanfraserinstitute.orgContentsExecutive Summary/i1.Introduction/12.Patterns of

2、 Investment in Canada and the United States,20012021/43.The Environment for Corporate Investing/124.Concluding Comments/16References/17About the Author/21Acknowledgments/21Publishing Information/22About the Fraser Institute/23Editorial Advisory Board/24fraserinstitute.orgiExecutive SummaryOver the p

3、eriod from 2001 to 2021,gross fixed capital formation(GFCF),or gross fixed invest-ment,as a share of gross domestic product(GDP)was higher in Canada than in the United States with the exception of a brief period from 2001 to 2006.This belies any notion that overall invest-ment intensity in Canada ha

4、s lagged that of the United States.From 2001 to 2014,GFCF as a share of GDP in Canada equaled or exceeded the share in the United States.The opposite was the case from 2015 to 2021.Specifically,corporate gross invest-ment as a share of GDP was about 2%higher in Canada than in the United States from

5、2001 to 2014,but it was 4.4%lower from 2015 to 2021.Hence,while corporate investment is relatively weaker in Canada than in the United States,this is a relatively modest and recent phenomenon.The mix of corporate investment in the two countries tells a richer story.Canadas invest-ment intensities in

6、 two asset categories,Information and Communications Technology(ICT)and Intellectual Property Products(IPP)are substantially weaker than comparable US invest-ment intensities.Specifically,GFCF in ICT as a share of GDP was about 21%lower in Canada than in the United States from 2001 to 2014.It was ab