Reflections on the key economic questions in the Scottish independence referendum

Goudie, Andrew (2014) Reflections on the key economic questions in the Scottish independence referendum. Fraser of Allander Economic Commentary, 38 (1). pp. 51-67. ISSN 2046-5378

[img]
Preview
PDF (FEC_38_1_2014_GoudieA)
FEC_38_1_2014_GoudieA.pdf
Final Published Version
License: Unspecified

Download (297kB)| Preview

    Abstract

    This paper reflects on the key economic questions of the Scottish Independence Referendum that should continue to be a political priority and sit at the heart of the debate. It poses the critical issues upon which the political leaderships should focus and provide greater insight and clarity into their thinking. These central questions range from the fundamental nature of economic self-determination to the high-profile and, arguably, primary economic choice of which currency system a newly independent Scotland would wish to adopt. It also focuses on the meaning of independence and dependence, and on the choices and trade-offs that must be faced. It finally draws out the importance of viewing the Referendum as an irreversible process and the need to assess all the constitutional propositions in a systematic manner with a particular emphasis upon their long term value.