- Employment
- Income Security
Current performance and trends
Canada experienced employment growth in
2005. Employment grew 1.4 per cent with 227, 600 net new jobs created,
continuing an upward trend that began in the mid-1990s. The number of employed
relative to the working-age population (persons 15 and over) in December 2005
was 62.7 per cent, the same figure as in December 2004.
The highest employment rates in the country
can be found in the three Prairie provinces and Ontario. Alberta, in
particular, has consistently had the highest rate of all the provinces. In
2005, the employment rate in Alberta was at a record high of 69.8 per cent,
reflecting an upward trend in job growth that began in the early 1990s.
Newfoundland and Labrador has consistently
ranked as the province with the lowest proportion of its working-age population
holding a job. In 2005, its employment rate was 49.8 per cent, 12.9 percentage
points below the national average of 62.7 per cent. However, the employment rate
in Newfoundland and Labrador has increased by 7.5 percentage points since 1996,
the result of healthy employment growth in the province during this period.
Over the past three decades, the employment
rate gap among the provinces has narrowed. Most noteworthy is New Brunswick,
where the difference between the provincial employment rate and the national
average has decreased more than in any other province. In 1976, the provincial
employment rate was 9.1 percentage points below the national average and by 2005,
that gap had decreased to 5.3 percentage points.
Employment: Provincial differences and unemployment rates
Current performance and trends
The unemployment rate in Canada reached
historic lows, closing the year 2005 at 6.7 per cent, down from 7.2 per cent in
2004. On a monthly basis, the unemployment rate reached a thirty-year low in
November 2005 at 6.4 per cent.
While the unemployment rate decreased in
all provinces, there was a great deal of variation in performance. The Atlantic
provinces and Quebec continue to have higher unemployment rates than the
national average. All provinces east of Ontario experienced higher unemployment
rates relative to the national average, while all provinces west of Ontario
experienced lower unemployment rates relative to the national average. Alberta
and Manitoba registered the lowest unemployment rates in 2005, at 3.9 per cent
and 4.8 per cent, respectively, whereas British Columbia and Alberta
experienced the fastest drop in their unemployment rates.
International comparison: Employment growth
Canada has experienced consistent employment growth since the
mid-1990s, in contrast with some G-7 countries, such as Japan and Germany,
whose employment growth has been minimal. Between 1997 and 2005, Canada
experienced the strongest growth in employment among the G-7 countries,
outperforming e.g. the United States and the United Kingdom. Strong global
growth and rising demand for Canadian commodities, combined with provincial and
federal policies to improve flexibility and adaptability, have helped Canada to
generate employment growth of 2.09 per cent between 1997 and 2005.
After declining in the first half of the 1990s, real disposable income (RDI) per capita has increased
at an average rate of 1.8 per cent per year since 1997, reflecting strong
employment growth and cuts in personal taxes. In 2005, RDI rose 1.5 per cent
from the 2004 level.
In addition, the 2001
Census indicated increases in overall earnings, defined here as total wages and
salaries plus net income from self-employment.
Income security: Canada's low-income situation
Despite the strong growth in average
incomes, some Canadians still experience economic hardships, living on incomes
insufficient to meet their daily needs or to allow adequate participation in
society. While Canada does not have an official poverty line, low income
measures such as Statistics Canada's post-tax low income cut-offs (LICOs) are
typically used to measure and monitor Canada's low-income situation.
According to the latest data available, the
percentage of Canadians living below the low-income cut-offs decreased from
15.7 per cent in 1996 to 11.2 per cent in 2004, based on their after-tax income.
The 2004 figures showed a slight decrease from the previous year's rate of 11.6
per cent.
In 2004, the LICOs based on the income
after tax varied from $11,824 for an unattached individual living in a rural
area to $44,197 for a family of seven or more persons living in a large
Canadian city.
Low income among seniors has declined
significantly, from 21.3 per cent in 1980 to 5.6 per cent in 2004.
Of the estimated 1,595,000 single-parent
families headed by a woman, 35.6 per cent had an income below the low-income
cut-off in 2004, up from 33.8 per cent in 2003. Their low-income rate peaked at
52.7 per cent in 1996.
An estimated 12.8 per cent of children, or
865,000 Canadians under the age of 18, were living in low-income families in
2004. This represents a decline from a peak of 18.6 per cent in 1996 but a
slight increase from the 12.1-per-cent rate in 2001.
(Statistics Canada, The Daily, "Survey of Labour and Income
Dynamics," 2006)
- Real gross
domestic product
-
Cost competitiveness
-
Natural resources
sustainability
- Green economic practices
In 2003, Canada experienced an economic
slowdown, reflecting a series of economic shocks, including an unprecedented
appreciation of the Canadian dollar. Rebounding in 2004, real GDP rose 3.3 per
cent, surpassing the 1.8 per cent recorded in 2003.Real GDP
increased by 2.9 per cent in 2005, slightly below its 2004 growth. Within the
G-7, Canada had the second-fastest growth in real GDP in 2005, second to the
United States.
According to the Organisation for Economic Co-operation and
Development (OECD), Canada has been a top performer among the G-7
countries in GDP growth over the 2002–05 period and is expected to
continue its dynamic performance over the 2006–07 period, with a
projected growth in real GDP of 3.2 per cent (OECD, Economic Outlook No.79,
May 2005).
In 2005, four provinces and territories
recorded economic growth that was above the national average of 2.9 per cent,
most of them in western Canada.
Western Canada
Oil price increases throughout 2004 and
2005 brought good fortune to Alberta's economy, which rose 4.5 per cent, by far
the highest among the provinces. Economic growth in Alberta was above the
Canadian average for the third year in a row. Surging oil prices in 2005 led to
huge gains in corporate profits and a subsequent increase in business
investment and personal expenditure.
British Columbia was close behind, with a
3.5 per cent gain. A marked reduction in the unemployment rate, strong labour
income, and a boost in residential construction facilitated this economic
growth.
The Saskatchewan economy outpaced the
Canadian average for a third consecutive year. Strong energy prices led to an
increase in corporate profits in the mining and manufacturing sectors. However,
its growth of 3.2 per cent in 2005 was just behind the 3.4 per cent increase in
2004.
Manitoba rounded out the West with a 2.7
per cent increase, powered by electricity exports. Manitoba has the
second-lowest unemployment rate in the country. This, coupled with strength in
labour income and low interest rates, spurred economic growth.
Atlantic Provinces
Prince Edward Island's economy led the Atlantic provinces in 2005,
rising 2.0 per cent, just above the 1.8 per cent gain in 2004. Labour income
strength, low interest rates, and continued job stability led to increased
personal spending on durable goods and business investment in machinery and
equipment.
Economic output in Nova Scotia rose 1.1 per
cent, slightly lower than the 1.4 per cent gain in 2004. Increases in
government spending at hospitals and universities, and a surge in labour income
facilitated the economic growth. The Newfoundland and Labrador economy
recovered from public-sector unrest in 2004, edging up 0.4 per cent in 2005.
Natural resources continued to play an important role in the economy as the
Voisey's Bay nickel mine and the White Rose oil field began production late in
the year.
The New Brunswick economy advanced 0.5 per
cent in 2005, well off its 2004 pace. Business investment outpaced government
investment to feed demand for housing, and office and rental space. Consumers
took advantage of continued low interest rates and strong labour income.
Ontario and Quebec
Economic output in Ontario advanced 2.8 per
cent in 2005, slightly below the Canadian average for a third consecutive year.
Appreciation in the value of the Canadian dollar and an increase in foreign
competition hampered export growth from the intense pace of 2004. However, the
all-important auto sector remained strong, with steady demand for Ontario-built
automobiles.
In Quebec, economic output grew 2.2 per
cent, just off the pace in 2004. Goods production was outpaced by services
production and Quebec's aerospace industry contributed to growth in
manufacturing activity. Electronic equipment manufacturing advanced, but the
gain in the Canadian dollar and increased foreign competition contributed to
declines in much of manufacturing.
The Territories
Economic output in Yukon rose 3.4 per cent
in 2005, slower than the growth rate of 3.5 per cent in 2004. The Canada Games
Centre became the impetus for an upswing in business investment. The tight labour
market aided personal income, which in turn led to increases in personal
expenditures and housing demand.
In the Northwest Territories, economic
output rose only 1.0 per cent, its slowest increase since 1999. With mining
operations nearing capacity at the existing diamond mines in the Northwest
Territories, construction of a new mine at Snap Lake has taken over as the
engine of growth. Truckers and airlines benefited from the construction
activity and growth in labour income remained strong in 2005.
Nunavut's economy edged
down 0.5 per cent in 2005. Mining operations and exports suffered a setback
with another mine closure, but the development of the Jericho mine site bodes
well for the future. The completion of several public building projects gave rise
to increases in various levels of government services, but left construction
activity suffering.
The comparison of business costs
demonstrates the advantages of locating business operations in Canada. Lower
costs encourage the investment, expansion, or start of businesses in Canada.
Costs related to labour, transportation, communications, and taxes were some of
the factors considered in a 2006 study published by KPMG (Competitive
Alternatives: KPMG's Guide to International Business Costs).
Among the nine countries studied, Canada
leads the G7 countries in terms of low business costs, with a cost advantage of
5.5 per cent relative to the United States (the baseline of the study). Canada
has retained its top ranking among G7 countries, although the size of its
advantage has been reduced by the strong appreciation in value of the Canadian
dollar relative to the U.S. dollar over the last two years. In 2004, Canada had
a 9.0-per-cent cost advantage relative to the U.S., down from 14.5 per cent in
2002. According to the study, the decline in the U.S. dollar relative to world
currencies was the most important factor affecting international business
competitiveness since 2002.
Among the 95 commercial fish stocks
assessed between 2003 and 2006, 20 stocks were healthy and increasing; 28 were
healthy and stable; and 47 were declining or depleted. A healthy designation is
indicative of a biologically sustainable stock, whereas a declining or depleted
designation is an indication of concern with regard to the current or future
sustainability of the stock within the context of the commercial fishery. The
percentage of assessed stocks that are healthy as compared with those that are
declining or depleted has increased approximately six per cent since the
2001–03 period. Variables affecting the status of these commercial fish
stocks include both natural (e.g. cyclic fluctuations in abundance) and
anthropogenic factors (e.g. impacts of development).
It should be noted that this is not a
balanced representation of all Canadian fish stocks. Stocks in the North and
Pacific salmon are under-represented, due to their assessment schedules, and
Fisheries and Oceans Canada intentionally organizes its assessment schedule to
regularly evaluate the status of stocks not considered to be healthy. As a
result, they may be over-represented in the group of stocks beings assessed.
Fisheries and Oceans Canada, Canadian Advisory Secretariat, 2006
Maintaining a strong economy calls for the integration of environmental considerations
into economic decision making and can be measured by the number of firms
certified with the environmental management system ISO 14001. The number of
certifications to the international environmental management standard ISO 14001
is often used as an indicator of a country's development in the use of
voluntary environmental agreements and is understood as a form of country-level
environmental performance indicator. The number of Canadian firms with ISO
14001 certification increased from 100 in 1999 to 1,492 in 2004 and then to
1,636 in 2005.
Consideration of the size of a country
(measured by population) and its level of economic development (measured by
GDP) should be taken into account when using ISO 14001 certification as a
measure of green economic practices, as these provide context in which to judge
a country's environmental management development.
Canada's international ranking ranges from
33rd in 1999 to 19th in 2001 and 27th in 2003 when taking into account the
level of Canada's economic development. When factoring in Canada's size,
Canada's 2003 ranking is unchanged from 22nd in 1999, with its highest ranking
of 15th occurring in 2001. For both measures in 2003, Canada places second last
within the G-7, ahead of only the U.S. Globally, since 1999 Sweden has held the
top ranking when economic development and country size are considered, with
Switzerland, Denmark, and Finland also consistently in the top five.
- Innovation
- Educational
attainment
- Literacy
Current performance and trends
Canada's Gross Domestic Expenditures on
Research and Development (GERD) as a percentage of GDP was 1.96 per cent in
2004, continuing a downward trend from 2.09 per cent in 2001. It is
increasingly important for Canada to be competitive with other countries that
are aggressively increasing their GERD, such as Finland, Iceland, and Japan,
all of which by 2002 exceeded 3 per cent GERD as a percentage of GDP, following
steady increases since the early 1990s.
Additional information: GERD
After a decrease in 2002, increases in GERD
are reported for 2004 and 2005, with a gain of 5.3 per cent in 2004 and
preliminary estimates of an additional 4.0 per cent in 2005 to reach a total of
$26.3 billion. In 2004, government funded 25.4 per cent of GERD, a figure that
represents an overall gain since 1999, when the government share was 22.6 per
cent. This is more than an 8.0-percentage-point decrease from 1991, however,
when government financed 33.8 per cent. In contrast, industry-financed GERD has
increased since 1991, growing from 38.2 per cent to 47.1 per cent in 2005.
Performance of GERD
In terms of performance of GERD for 2005,
industry performed 52.7 per cent, higher education 37.5 per cent, and
government 9.5 per cent. The business enterprise sector's performance share has
decreased from 1998 when it was 60.2 per cent, though the 2004 figure
represents an increase since 1991 when it was 49.7 per cent. Higher education's
performance share of GERD has increased since 1998, from 27.2 per cent in 1998.
Government-performed GERD has decreased since 1991, when it was 18.7 per cent.
Budget 2005 notes that Canada ranks among the top five nations in terms of
publicly performed research (universities, research hospitals, and government laboratories)
as a proportion of GDP.
R&D intensity
In 2003, the top three industries for
research and development (R&D) intensity, as measured by R&D spending
as a percentage of GDP, were scientific research and development services,
communications equipment manufacturing, and health care and social assistance
services.
R&D workforce
Between 1991 and 2002, the total number of
researchers in Canada increased from 67,080 to 112,630. Per thousand total
employment, there were 5.1 researchers in 1991 and 7.2 in 2002. The R&D
sector as a whole had a workforce of 177,120 in 2002 or 11.3 personnel per
thousand total employment. (Statistics Canada, 2005; OECD, 2004)
For further information on GERD, see the
OECD Factbook 2005: Economic, Environmental and Social Statistics,
which can be accessed on the OECD website at http://www.oecd.org/home.
Innovation: Triadic patent families
Current performance and trends
Shares in triadic patent families are used
to measure a country's inventive performance, diffusion of knowledge, and
innovative activities. Canada's world share in triadic patent families among
the OECD countries grew slightly from 1.13 per cent in 1996 to 1.31 per cent in
2002, peaking at 1.34 per cent in 1998. In contrast, the U.S. had the greatest
share in 2002 at 36.29 per cent.
Additional information: Triadic patent families
The number of triadic patent families with
a Canadian residence of the inventor increased from 1996 to 2002, peaking at
670 in 2001. Similarly, numbers of triadic patent families have increased
overall for the major OECD countries. (OECD, Main Science and Technology
Indicators 2005/2)
Within the G-7, Canada had the
second-lowest number of triadic patent families per million population in 2001,
with 20.6, greater only than Italy's 14.8. Japan led the way with 92.3. In all
G-7 countries, the number of triadic patent families per million population
increased between 1991 and 2001. Examining the number of triadic patent
families in relation to population size provides some context in terms of
capacity to innovate. (OECD, Science, Technology and Industry: Scoreboard
2005)
Triadic Patent Families per million population
(1991–2001)
|
Country
|
Number of
Triadic Patent Families
per million
population (1991)
|
Number of
Triadic Patent Families
per million
population (2001)
|
|
Canada
|
9.8
|
20.6
|
|
France
|
30.5
|
40.3
|
|
Germany
|
46.0
|
90.7
|
|
Italy
|
11.7
|
14.8
|
|
Japan
|
71.8
|
92.3
|
|
United Kingdom
|
21.8
|
36.7
|
|
U.S.
|
40.0
|
57.7
|
(Source: OECD,
Science, Technology and Industry: Scoreboard 2005)
Innovation: Science and engineering article outputs
Current performance and trends
Over the past 15 years, Canada's share of
science and engineering articles has been relatively low as compared to other
OECD countries. In 2003, output totalled 24,803 articles, the highest output
registered since 1988. In 2001, Canadian science and engineering article
outputs totalled 22,626, down from 23,417 in 1999.
For further information on science and
engineering article outputs, see the National Science Foundation report
entitled Science and Engineering Indicators 2006, Volume 2 (http://www.nsf.gov/statistics).
International Comparison
OECD studies suggest that an innovation gap
separates Canada from the leading OECD countries. The Canada's Innovation
Performance chart shows that in a number of indicators of innovation
performance, Canada is considerably behind the U.S. and other G-7 countries.
According to the 2001 Census, 61.0 per cent
of Canadians aged 25 to 34 had educational credentials beyond high
school—28.0 per cent had a university education, 21.0 per cent held a
college diploma, and 12.0 per cent had trade credentials. This is a marked increase
over a decade earlier when only 49.0 per cent of people in that age category
had credentials past high school.
In 2003, full-year, full-time workers with
a university degree earned on average $67,091 compared to $37,840 for those
with only a high school diploma, a difference of $29,251. (Statistics Canada, 2005)
About two thirds of the
new jobs created in Canada will be in management or will require some form of
post-secondary education, from trades certificates to advanced degrees. (Human
Resources and Skills Development Canada, 2005)
International Comparison
According to the OECD,
Canada is the world leader in education when considering the combined
proportion of university and college graduates. In 2003, 44 per cent of
Canada's population aged 25 to 64 had completed a college or university
education, increasing annually from 29.9 per cent in 1991. Within the rest of
the G-7 figures range from the U.S. with 38 per cent to 10 per cent in Italy.
Additional information: Educational attainment
According to the OECD,
in 2003, 53 per cent of all Canadians aged 25 to 34 had educational credentials
beyond high school in comparison with 34 per cent of all Canadians aged 55 to
64. Differences between tertiary attainment of younger and older age groups is
a measure of progress in the provision of higher education. (OECD, Education
at a Glance, 2005)
Within the age group of 25–34
year olds, 23.0 per cent of males and 29.0 per cent of females in 2002 attained
university and advanced research program levels. Every year since 1998, the
proportion of the female population marking this achievement has been higher
than the proportion of the male population.
In 2002, 40.0 per cent of Canadian males
aged 25–64 attained tertiary-level education, while 45.0 per cent of
females reached the same level. (OECD, Factbook 2005: Economic, Environmental
and Social Statistics)
The 2003 results of the Adult Literacy
and Life Skills Survey found that the average literacy score for Canadians
has not changed significantly since the last major survey in 1994, the International
Adult Literacy Survey. During this period, there were significant numbers
of adult Canadians with low-level literacy skills that constrained their
participation in society and in the economy. For example, while 58.0 per cent
of Canadian adults aged 16 to 65 placed in the top three literacy levels on the
prose scale, 15.0 per cent, or over 3 million Canadians, scored on the lowest
level, indicating significant problems with dealing with printed materials.
Level 3 is considered the required minimum for successfully functioning within
the emerging knowledge society and information economy.
International Comparison
Among the seven countries that participated
in the 2003 survey, Canada ranked roughly in the middle. On the prose scale,
residents of Norway and Bermuda performed better than Canada, whereas Canadian
adults performed slightly better than Americans on all scales.
The 2003 OECD study on the Program for
International Student Assessment (PISA) evaluated reading literacy, mathematics
literacy, and science literacy of 15-year-old students in 41 countries. In
reading, the overall achievement of Canadian students was significantly above
the OECD average and only students in Finland outperformed Canadian students.
These results are consistent with those of the 2000 PISA study. Canada also
performed well in mathematics and science, with two countries and four
countries respectively outperforming Canada. Where comparisons of the 2000 and
2003 mathematics results are possible (due to refinements in methodology),
similar and improving scores were observed. Lower science performance scores
were recorded in 2003 as compared to 2000.
- Air quality
- Water use
- Biodiversity
- Greenhouse
gas emissions
Ground-level ozone is a key component of
smog and one of the most common and harmful air pollutants to which people are
exposed.
The measure of ground-level ozone used in
this report attempts to capture the trend in long-term ozone concentrations at
the national level and to take into account human exposure to the pollutant.
Ground-level ozone is an important indicator of air quality, as there are
currently no established thresholds below which it does not pose a risk to
human health.
Current performance and trends
Ground-level ozone concentrations may vary
from location to location and from hour to hour, depending on sunlight
intensity, weather conditions, and the movement of air over various distances.
Ozone is not emitted directly as a pollutant but is a colourless gas formed by
chemical reactions involving nitrogen oxides (NOX) and volatile organic
compounds (VOC). These ozone precursors may be emitted locally or transported
by the movement of air from other regions, including other countries.
The 2003 indicator of warm-season,
population-weighted, ground-level ozone averaged approximately 40 parts per
billion (ppb) in Canada, a 16 per cent increase over time from 1990.
Current performance and trends
In 2001, average residential water use per
person was 335.0 litres per day. Water use involves taking water from the
environment, as well as returning water to the environment; as a result, a
variety of pressures are placed on Canada's water resources. The quantity of
water used is a concern, which includes concern over the capability of aquatic
ecosystems to meet demand during dry periods. Water quality is a related issue
of water use due to the increased use of water treatment chemicals that are
subsequently discharged with wastewater.
Non-residential water use
In Canada, water use is dominated by
agriculture and industry—e.g. 64.0 per cent of water use in Canada is
attributed to the flow of water into and out of thermal
power plants.
Current performance and trends
Since 1978, the Committee on the Status of
Endangered Wildlife in Canada (COSEWIC) has been assessing and reassessing the
status of Canadian wild species suspected of being at
risk.[1]By the end of April 2006, COSEWIC had assessed
727 species, with 516 of these considered to be at risk of extinction
(extirpated, endangered, threatened, or of special concern).
An additional 13 species have been assessed
by COSEWIC as extinct—the same number as reported in May 2005. A
total of 163 species have been assessed by COSEWIC more than once. Of these,
the status of 48 species worsened (29.4 per cent), whereas 27 species (16.6 per
cent) improved, i.e. were determined to be no longer at risk or placed in
a lower risk category. This would seem to illustrate that, despite some
successes, the state of biodiversity overall has deteriorated. As an indicator,
however, COSEWIC reassessments offer only a glimpse of the overall status of
biodiversity in Canada. Other indicators are currently under development for
Canada.
For more information on environmental
sustainability indicators, please consult the Canadian Environmental
Sustainability Indicators 2005 report at http://www.statcan.ca/english/freepub/16-251-XIE/16-251-XIE2005000.htm.
The companion report, Canadian Environment Sustainability Indicators
2005: Socio-economic Information, fills an essential and complementary
need: helping readers put the indicator results in context by providing
information about the forces driving the changes in the indicators. It draws on
the wealth of information that Statistics Canada has assembled over many decades,
presenting data in familiar formats and in ways that will be new to many
readers. This report can be found at http://dsp-psd.pwgsc.gc.ca/Collection/Statcan/16-253-X/16-253-XIE2005000.pdf.
Total GHG emissions in
Canada in 2004 were 758 Mt, which represents a 0.6 per cent increase over the
2003 total of 754 Mt and a 26.6 per cent increase over the 1990 total of 599 Mt
and a 34.6 per cent increase over the Kyoto target of 563 Mt. The increase from
2003 to 2004 was small, primarily due to significantly reduced emissions from
electricity production and a reduced demand for heating fuel due to warmer
weather.
Between 2003 and 2004, emissions from most
sectors were up. Industrial Processes, Solvent and Other Product Use, Agriculture,
and Waste were up by 8.3 per cent, 0.9 per cent, 4.5 per cent, and 0.8 per
cent, respectively. On the other hand, Energy Sector emissions actually showed
a decrease of 0.4 per cent, the first since the 1990–91 period. This
minimized overall growth. The Energy Sector decrease was due primarily to lower
emissions from electricity, on the basis of increased nuclear availability and
reduced coal generation.
Between 1990 and 2004, significant growth
in oil and gas production, much of which was provided to the United States,
resulted in a dramatic increase in the emissions associated with the production
and transportation of fuel for export. In 2004, net emissions associated with
these exports were 47.8 Mt, a 123 per cent increase over the 1990 level of 21.5
Mt. (Environment Canada, 2006)
- Barriers to entrepreneurship
According to the OECD, Canada has developed
a strong regulatory capacity that has greatly contributed to Canada's economic
growth. Three areas for measuring the regulatory climate and producing an overall
score for barriers to entrepreneurship are as follows:
- administrative
burden on start-ups;
- regulatory and
administrative opacity; and
- barriers to competition.
In 2003, Canada had the lowest level of
regulatory barriers to entrepreneurship among G-7 countries, sharing the top
position with the United Kingdom. Canada's overall score has improved from
1998. These low barriers contribute to an innovative economy and provide an
advantage for Canadian entrepreneurs in the global marketplace. According to the
OECD, however, a key priority for Canada should be to reduce barriers to
foreign ownership because restrictions are holding back competition and
innovation. (OECD, Product Market Regulation in OECD Countries, 1998 to 2003;Ibid,Economics Working Paper No. 419, 2005; Ibid, Economic
Policy Reforms—Going for Growth, 2005)
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