Does international financial integration boost economic growth? The question has been discussed controversially for a long time. As of yet, robust evidence for a positive impact is lacking (Edison et al., 2002). However, there is substantial narrative evidence from economic history that...

1 Introduction: Myth and Reality in Canadian Economic History -- 2 Back to the Future: Reflections on the Canadian Economy in International Context -- 3 Growth Theory and Economic History: A Staple Perspective -- 4 Economic Growth and Development in Early Canada -- 5 The Economic Impact of the...

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...