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Sectoral Growth and Regional Development: the Welsh Experience

In: Inward Investment, Business Finance and Regional Development

Author

Listed:
  • Jago Atkinson
  • Chris Ioannidis
  • Brian Morgan

Abstract

This chapter compares actual output with trend output in selected production sectors of Wales and the UK as a whole. The usual purpose of estimating trend output is to identify the ‘output gap’ in the macro economy. This is not the objective of this chapter: rather it will focus on sectoral developments at a regional level rather than the macro economy. This approach has some interesting implications at the sectoral level because the ‘output gap’ can also be used to look at short-term cyclical developments and to contrast these with the underlying long-term structural changes in the economy.

Suggested Citation

  • Jago Atkinson & Chris Ioannidis & Brian Morgan, 1998. "Sectoral Growth and Regional Development: the Welsh Experience," Palgrave Macmillan Books, in: Stephen Hill & Brian Morgan (ed.), Inward Investment, Business Finance and Regional Development, chapter 3, pages 48-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14181-4_4
    DOI: 10.1007/978-1-349-14181-4_4
    as

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