“The Return of Industrial Policy and Advanced Sector Productivity Growth. Considerations for Canada's future.”

Review IMF Reporting takeaways for trends in global industrial policy and understand contributing factors in Canadian advanced sector productivity growth from a Brookings Institute research summary.

The New Focus for Industrial Policy Makers

In 2024 the IMF reported that only 1/3 of all global national policies were focused on increasing competition while the majority centered around other priorities, signaling a new effort to reshape development and to invest in new technologies.

The majority of recent global policies focused on these three areas:

• Climate Mitigation

• Supply Chain Resilience

• Security

  “Recent measures focus more on the green transition and economic security, and less on competitiveness.

  Competitiveness was the objective for one-third of all industrial policy measures last year. The remaining two-thirds were motivated by climate mitigation, supply chain resilience, and security considerations.”

  https://www.imf.org/en/Blogs/Articles/2024/04/12/industrial-policy-is-back-but-the-bar-to-get-it-right-is-high