ITIF：2025加拿大企业资本设备投资不足对生产力增长的影响研究报告（英文版）（36页）.pdf

1、 innovationpolicy.ca Underinvestment in Capital Equipment Hinders Canadian Productivity Growth LAWRENCE ZHANG AND MEGHAN OSTERTAG|MAY 2025 Canadian firms are underinvesting in productivity-enhancing capital such as machinery,software,and advanced technologies.Without targeted reforms to boost invest

2、ment and improve data collection,Canada risks falling further behind in global competitiveness and economic growth.KEY TAKEAWAYS Canadas investment in productive capital such as machinery,software,and equipment has declined in relative terms over the past decade,contributing to stagnant capital stoc

3、k and a widening labour productivity gap with the United States.Headline capital investment figures overstate productivity by including low-impact assets like furniture and fleet vehicles,leading to misdiagnosis of business modernization.Canadian firms invest significantly less per worker in product

4、ivity-enhancing capital than U.S.firms,undermining competitiveness and long-term growth potential.The high share of small businesses in Canada limits scale and capital intensity.Removing size-based tax and regulatory advantages would shift the economy toward firms better positioned to invest and com

5、pete globally.Emerging technologies like robotics and AI represent major productivity opportunities,but widespread adoption depends on firm-level willingness and ability to invest in modern capital.To close the productivity gap,Canada should adopt first-year expensing for all productive capital,esta

6、blish industry-specific productivity groups,and modernize Statistics Canadas capital investment data,particularly around software and leased assets.ITIF CENTRE FOR CANADIAN INNOVATION AND COMPETITIVENESS|MAY 2025 PAGE 2 CONTENTS Key Takeaways.1 Introduction.2 Productivity.3 Capital Investment.5 Capi