UK Economic Growth since 2010: Is it as Bad as it Seems?

Nicholas Crafts

National Institute Economic Review, 2015, vol. 231, issue 1, R17-R29

Abstract: This paper reviews UK supply-side policies since 2010 in terms of their impact on growth and considers medium-term growth prospects in the context of the puzzle of disappointing post-crisis TFP performance. It is argued that there is no reason to believe that growth prospects have deteriorated significantly compared with the pre-crisis period. Changes in policy under the Coalition government are unlikely to have made a big difference to growth potential. On the one hand, this means opportunities for radical reform have been ignored; on the other hand, there has been no repeat of the 1930s’ debacle.

Keywords: economic growth; industrial strategy; productivity puzzle; supply-side policy (search for similar items in EconPapers)
JEL-codes: N14 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:niesru:v:231:y:2015:i:1:p:r17-r29

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