The Scottish economy [April 1977]

Alan A. Carruth, Michael W. Danson, John Duignan, M. E. Glassford, Frank X. Kirwan, David R. F. Simpson, Alison A. Wingfield, Fraser of Allander Institute

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    Abstract

    The Scottish economy is between recession and recovery. If one were to judge the future only by prospective aggregate demand, then the outlook would be one of prolonged stagnation. Certainly, the slow growth which is foreseen for world trade is
    bound to keep order books low for many of Scotland's traditional export industries. Whatever the outcome of the negotiations concerning the next state of incomes policy, even if there is no agreed policy at all, it is difficult to foresee any rapid
    expansion of the UK market. While particular groups may benefit from the absence of an incomes policy, the government will feel bound to contain the overall growth of domestic demand. Further analysis of Scotland's current economic health is provided, as too is some consideration of Scotland's potential for entrepreneurial activity.
    Original languageEnglish
    Pages (from-to)6-34
    Number of pages29
    JournalQuarterly Economic Commentary
    Volume2
    Issue number4
    Publication statusPublished - Apr 1977

    Keywords

    • Scottish economic trends
    • unemployment patterns
    • UK economic conditions
    • industrial performance
    • entrepreneurial behaviour
    • Scotland
    • labour market conditions

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