A recent Statistics Canada study, summarized in this article, discussed Canadian investment over the last 20 years. Here are the main points:
1. Investment in structures is higher in Canada than in the US, but lower in information and telecommunication technology. Why? Canada is a resource rich country, hence high investment in structures. In the US, data - intensive sectors, in particular finance, are more important.
2. Investment in Canada grew slower than in the US when the dollar was weak (it reached its lowest value in 2002) and faster when the dollar was appreciating. Why? We import a large portion of investment goods. When the Canadian dollar depreciates, the relative price of investment goods increases, reducing investment.
3. As the dollar has been depreciating recently, this may lead to lower investment.
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