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Econ2D03 Assignment 4, Yang, Zhi Xing 0966680.pdf

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McMaster University
Rashid Khan

Econ2D03 Assignment#4YanLing, Zheng 1055775 Assignment #4 Economic 2D03 Student: Yang, ZhiXing Student ID:0966680 Date: 2012-05-28 Question#1: a) Briefly explain economic and social determinants of economic growth. Economic determinants are including:  Capital, investment and savings  Technology and innovation  Human capital: stock of skill and expertise accumulated by worker  Market structure/Openness  Business cycle factors  Social determinants are including:  Wealth inequality  Income inequality  Social cohesion, trust, association, values and norms  Income security  Political freedom b) Briefly explain the reasons for U.S.-Canada labour-productivity-gap. The reasons for U.S.-Canada labour-productivity-gap are including:  Lower capital intensity account for one-fifth of the labour productivity gap  Canada’s innovation gap as manifested by lower R&D expenditures as well as lags in the diffusion of best practice techniques from other countries, particularly the USA  Canada]s relatively underdeveloped high tech sector which has had much lower productivity growth than its US counterpart  Canada’s less developed human capital  More limited economies of scale and scope in Canada reflecting smaller plant size due to the continuation of border effects. c) Provide a points-form summary of Porter’s views on poor competitiveness of Canadian economy.  Factor conditions: quantity and quality of human resources, physical resources (land, water, forests, natural resources). Knowledge resources (scientific, technical, market knowledge and education) and infra-structural resources (Transportation, communication, and health care). Efficiency of available factors. Porter also makes a distinction between Econ2D03 Assignment#4YanLing
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