There is a high probability that the Scottish economy will go into recession in 2009. Recession is the likely outcome of the global financial crisis, which was triggered by the collapse of the house price bubble, initially in the United States, massive foreclosures in the US sub-prime mortgage market, and significant bank and hedge fund losses across the globe as the value of innovative investments based on sub-prime mortgages collapsed.
|Number of pages||14|
|Journal||Fraser of Allander Economic Commentary|
|Publication status||Published - Nov 2008|
- Fraser of Allander Institute
- Scottish economic appraisal
- Scottish economic forecasts