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The figure shows government
purchases, net government
income (taxes less transfers
and interest), and the current
account balance for Canada
for the period 1961-2006.
Government data are for federal, provincial, territorial, and
municipal governments, and
each series is measured as a
percentage of CDP. The government deficit (shaded area)
is the difference between government purchases and net
receipts. Note the twin deficits
during
almost the whole
period from 1975 to 1998.
Since 1998 Canada has experienced twin surpluses:
Source: Adapted from Statistics
Canada,CANSIM
/Iseriesv113713,
v646937, v498327. v498332.
v498316,andV4983~-------------
/
20~
Government
budget deficit
Government
budget surplus
~~~~\~~~
.?~/:J
Current account
:cu~t_~QU~BaI~_~
,..J/V\,<;?r"""j
__ ~
~·"\.;~,<w",=-;// ."=.t'
\"",,;.\\
-5
1961 19641967
"
1970 1973 1976 1979 1982 1985 1988 1991 1994 199720002003
2006
Year
.
~--
_
- ~ 'A +-
N-ow
•
~'' '
jlOlka
MO&"
tc.nJ
lis
fA'C
c.a ,.-41 lJt,,,,.J,ol1C 4ft .,
)104 •.' e•.,,'l..1 /PIf"It.f./l
i
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~t ,,~,e of ,'.".,'14,. lSJriS Qc,oJ ~~"tr,
'nt~$~.",IJ lit Htc. s-W\~,
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'-"re-.-
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p .I~
i~ I ~90
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l. OlAY' ~." •• I) tlt 1M ,'" :'"cJrih J
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H.4~l/-
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E°.22
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0.121------------0.12
0.17
0.22
027
0.32
J'igure3.4
Industrial-country
IIY
saving lllId iDvcstmeDt rates, 1982-91
= 0.09 + 0.62SIY,
(0.02) {0.09)
Table 2
FELDSTEIN-HORIOKAREGRESSIONS,
1990-1997R
All countries~
I/Y = a
+ f3NS/y + £,
No. afabs.
a
f3
R2
56
0.15
(0.02)
0.41
(0.08)
0.33
Countries
with GNP/cap.
>
1000
48
0.13
(0.02)
0.48
(0.09)
0.39
Countries
with GNP/cap.
> 2000
41
0.07
(0.02)
0.70
(0.09)
0.62
24
0.08
(0.02)
0.60
(0.09)
0.68
OECD countries'
"OLS regressions.
Standard errors in parentheses.
.
&Jsrael is excluded from
regressions in this table. H Israel is added to the samples of size (56, 48, 41),
the estimates of p are (0.39,0.45,0.63).
'If one adds Korea to the OECD 8aI!'ple, the estimate for j3 ~
to 0.76. Korea is included in'the larger
. samples.
.
an
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