The Regional Impact of Economic Fluctuations during the Inter-War Period: The Case of British Columbia

Blain, Larry; Paterson, Donald G.; Rae, James DeShaw

doi:10.2307/134036

Cited by 6 publications

(1 citation statement)

References 17 publications

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“…Regional disparities are not a new phenomena in Canada. McInnis (1968), Blain, Paterson, and Rae (1974), Scott (2001), Wakerly (2002), and Barillas and Schliecher (2003) report differences in incomes and outputs across various Canadian economic and geographic subunits. However, this work contrasts with Coulombe and Lee (1995), Lee (1996), Helliwell (1996), and Coulombe (1999) who argue that convergence will inevitably occur for Canadian regional economies because there is a single source of long‐run aggregate growth, which accords with hypotheses (i)–(iii).…”

Section: Introductionmentioning

confidence: 99%

Common trends and common cycles in Canada: who knew so much has been going on?

Wakerly¹,

Scott²,

Nason³

2006

Canadian J of Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract: It is generally accepted that convergence is well established for regional Canadian per capita outputs. The authors present evidence that long-run movements are driven by two stochastic common trends in this time series. This evidence casts doubt on the convergence hypothesis for Canada. Another prevalent belief is that Canada forms an optimal currency area (OCA). The authors uncover three serially correlated common cycles whose asymmetries suggest Canada is not an OCA. Their common trendcommon cycle decomposition of regional outputs also reveals that trend shocks dominate fluctuations in Ontario, Quebec, and the Maritimes in the short run and long run but not in British Columbia and the Prairie region. Thus, regional Canadian economic fluctuations are driven by a rich, diverse, and economically important set of propagation and growth mechanisms. Terms of use: Documents inJEL classification: C32, E32, O47

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