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Economic growth : onwards and upwards?
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Crafts, N. F. R. (2015) Economic growth : onwards and upwards? Oxford Review of Economic Policy, 31 (2). pp. 217-241. doi:10.1093/oxrep/grv014
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Official URL: http://dx.doi.org/10.1093/oxrep/grv014
Abstract
This paper considers developments in UK growth performance and supply-side policies since the 1980s. It argues that economic reforms made in the Thatcher years and consolidated under subsequent governments delivered improved pre-crisis growth outcomes helped by the information and communications technology (ICT) revolution and stronger competition in product markets. The new growth economics provided useful insights for policy-makers, some of which were partly heeded. Recently, as productivity growth has stalled, there has been a turn to ‘soft’ industrial policy and a fear that the future is one of secular stagnation. The former has made little difference and the latter is unlikely.
| Item Type: | Journal Article | ||||||
|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor |
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| Divisions: | Faculty of Social Sciences > Economics | ||||||
| Library of Congress Subject Headings (LCSH): | Economic development -- Great Britain -- 21st century, Industrial management -- Great Britain -- 21st century, Great Britain -- Economic policy -- 21st century, Endogenous growth (Economics) -- Great Britain -- 21st century, Stagnation (Economics) -- Great Britain -- 21st century, Great Britain -- Politics and government -- 1979-1997 , Thatcher, Margaret, 1925-2013 | ||||||
| Journal or Publication Title: | Oxford Review of Economic Policy | ||||||
| Publisher: | Oxford University Press | ||||||
| ISSN: | 0266-903X | ||||||
| Official Date: | June 2015 | ||||||
| Dates: |
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| Volume: | 31 | ||||||
| Number: | 2 | ||||||
| Page Range: | pp. 217-241 | ||||||
| DOI: | 10.1093/oxrep/grv014 | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Restricted or Subscription Access |
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