The Scottish economy [January 1981]

Bell, D.N.F. and Hamilton, D. and Harrigan, F. and Jowett, A. and Kirwan, F. and McGilvray, J. and O'Donnell, N. and Orton, I. and Simpson, D. and Tait, E. and Walker, J. and Wingfield, A. (1981) The Scottish economy [January 1981]. Quarterly Economic Commentary, 6 (3). pp. 5-28. ISSN 0306-7866

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The causes of the present recession are generally misunderstood. While it is undoubtedly the case that the growth of the world economy has been reduced, this has, as yet, had little effect on the UK. Exports have been surprisingly buoyant, benefiting perhaps from orders obtained when the pound was at a much lower level. Detailed forecasts, as well as additional analyses of the latest Scottish economic data, is provided to better understand Scotland's current economic predicament.