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Economic Growth and Productivity

In: The Economics of Brexit

Author

Listed:
  • Philip B. Whyman

    (University of Central Lancashire)

  • Alina Ileana. Petrescu

    (University of Central Lancashire)

Abstract

One of the more contested elements of economic analyses of Brexit impact concerns productivity and growth effects. This chapter examines the proposition that there is a link between openness and growth, alongside competition and productivity. It questions whether openness is acting as a proxy for other factors, such as economies of scale and the rate of capital formation, which can be influenced by other determinants, such as the level and growth of aggregate demand. This chapter examines the question of whether EU membership reversed what was perceived at the time of accession to be the UK’s relative decline, and it examines how the UK’s current large trade deficit might constrain growth rates.

Suggested Citation

  • Philip B. Whyman & Alina Ileana. Petrescu, 2020. "Economic Growth and Productivity," Springer Books, in: The Economics of Brexit, edition 1, chapter 0, pages 241-269, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-55948-9_7
    DOI: 10.1007/978-3-030-55948-9_7
    as

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