Sectoral Growth and Regional Development: the Welsh Experience

Jago Atkinson, Chris Ioannidis and Brian Morgan

Chapter 3 in Inward Investment, Business Finance and Regional Development, 1998, pp 48-62 from Palgrave Macmillan

Abstract: 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.

Keywords: Regional Development; Sectoral Growth; Location Quotient; Trend Output; Optical Equipment (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14181-4_4

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DOI: 10.1007/978-1-349-14181-4_4

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