EconPapers    
Economics at your fingertips  
 

Assets and liabilities and Scottish independence

Angus Armstrong () and Monique Ebell

Oxford Review of Economic Policy, 2014, vol. 30, issue 2, 297-309

Abstract: This paper considers how the economically important assets, liabilities, and institutions in the UK could be divided if Scotland becomes an independent country. We find that on the basis of any reasonable division of existing assets and liabilities, Scotland would begin its independence with a substantial debt burden and less scope for risk-sharing with the rest of the UK. In order to reduce this debt burden, an independent Scotland would have to adopt a restrictive fiscal stance for many years. We estimate that Scotland would need to run primary surpluses of 3.1 per cent annually in order to achieve a Maastricht definition debt-to-GDP ratio of 60 per cent after 10 years of independence. This would be more restrictive than the fiscal tightening in the UK over the last 4 years.

Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1093/oxrep/gru017 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Assets and Liabilities and Scottish Independence (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:30:y:2014:i:2:p:297-309.

Access Statistics for this article

Oxford Review of Economic Policy is currently edited by C. Allsopp

More articles in Oxford Review of Economic Policy from Oxford University Press
Bibliographic data for series maintained by Oxford University Press ().

 
Page updated 2020-11-23
Handle: RePEc:oup:oxford:v:30:y:2014:i:2:p:297-309.