The contribution of immigration to economic development in New Brunswick
University of New Brunswick
Today, Canada is one of the best places to immigrate. In comparison to some popular immigration destinations such as Ontario and British Columbia, New Brunswick is becoming a superior choice for many immigrants. Turning the growing number of immigrants into a promotion of economic growth is important and should be taken into consideration by the government of New Brunswick. Therefore, the objective of this paper is to find out the relationship between immigration and economic development in New Brunswick. Time series data are used for estimation. I have adopted the Auto Regressive Distributed Lag Model and the Error Correction Model for hypothesis testing based on time series data from 1981 to 2017. I conclude that the increase in the number of immigrants improves the economic performance of NB in the short-run as well as in the long-run. New Brunswick’s current immigration policies are discussed in this paper, and I also propose policy implications according to the ADRL model considered.