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Persistent Productivity Failure in the UK: Is the EU Really to Blame?

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  • Nicholas Crafts

Abstract

On average, UK productivity performance in the decades leading up to the financial crisis was quite disappointing. Joining the EU was not to blame. Indeed, EU membership, which was an integral part of the Thatcher reform programme, had a significant positive impact. Over the long run, UK supply-side policies have been badly designed in various different ways. These design faults have not been the result of constraints imposed by EU membership but rather the consequence of domestic government failure. There is no reason to think that EU exit will lead, either directly or indirectly, to improvements in UK productivity outcomes.

Suggested Citation

  • Nicholas Crafts, 2019. "Persistent Productivity Failure in the UK: Is the EU Really to Blame?," National Institute Economic Review, National Institute of Economic and Social Research, vol. 247(1), pages 10-18, February.
    • Handle: RePEc:sae:niesru:v:247:y:2019:i:1:p:r10-r18
    DOI: 10.1177/002795011924700111
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    More about this item

    Keywords

    Brexit; productivity; supply-side policy;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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