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The role of services in New England's rise and fall: engine of growth or along for the ride?

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  • Lynn E. Browne

Abstract

The downturn in the New England economy has surprised almost everyone by its severity and breadth. Even those who foresaw that the rapid expansion of the mid 1980s could not be sustained warned of slower growth rather than sharp contraction. This article assesses the role played by services and financial services in New Englands fluctuating economic fortunes. ; The author examines the size of the nationally oriented component of financial and other services and the stability of a more servicesoriented economy. If financial and other services can serve as regional economic drivers in a significant way, these industries are a potential source of regional economic recovery and economic development initiatives should take these industries into account.

Suggested Citation

  • Lynn E. Browne, 1991. "The role of services in New England's rise and fall: engine of growth or along for the ride?," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 27-44.
    • Handle: RePEc:fip:fedbne:y:1991:i:jul:p:27-44
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    File URL: http://www.bostonfed.org/economic/neer/neer1991/neer491c.pdf
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    Cited by:

    1. Carolyn Sherwood-Call, 1996. "The 1980s divergence in state per capital incomes: what does it tell us?," Economic Review, Federal Reserve Bank of San Francisco, pages 14-25.

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    Keywords

    Service industries; New England;

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