Review of the quarter's economic trends [November 1982]
Simpson, David and Bell, David and Hamilton, Douglas and McGilvray, James and McNicoll, Iain and Moar, Lyle and O'Donnell, Noreen and Tait, Elizabeth and Walker, James and Wingfield, Alison (1982) Review of the quarter's economic trends [November 1982]. Quarterly Economic Commentary, 8 (2). pp. 1-5. ISSN 0306-7866
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Abstract
Although circumstances are propitious for a modest expansion in output, business confidence is low and there is as yet no indication of the increase in investment necessary for a sustained longer-term recovery. Given the traumatic shocks of the past three years, industry may be slow to respond to relatively modest changes in the exchange rate and in the level of domestic demand, and more substantial pump-priming may be needed to make any impact on current unemployment levels. However, the high level of import propensity means that even a moderately-large growth in demand may not encourage significant growth in output and employment, and may instead lead to the familiar cycle of balance of payments problems, sterling depreciation and higher import prices, and renewed inflation. World economic trends are also considered in this brief paper.
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Item type: Article ID code: 51274 Dates: DateEventNovember 1982PublishedSubjects: Social Sciences > Economic Theory
Social Sciences > Public Finance
Social Sciences > Industries. Land use. LaborDepartment: Strathclyde Business School > Fraser of Allander Institute Depositing user: Pure Administrator Date deposited: 27 Jan 2015 10:18 Last modified: 06 Sep 2024 00:41 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/51274