Economic Performance Under Labour

2010 ◽  
Vol 212 ◽  
pp. R2-R14 ◽  
Author(s):  
Iana Liadze ◽  
Martin Weale
Keyword(s):  
Economic Growth ◽  
Labour Market ◽  
Economic Performance ◽  
Productivity Growth ◽  
Market Performance ◽  
National Income ◽  
The Other ◽  
The Uk ◽  
Sustainable Economic Growth ◽  
Growth Economic

This article compares the performance of the UK economy since 1997 with that between 1979 and 1997 and with the performance of the other G7 economies in both periods. It concludes that Britain has done relatively well in terms of productivity growth, economic growth and national income per head but not very well in terms of labour market performance. Savings rates were too low to deliver sustainable economic growth over the period 1979–97 and there has been very little improvement since then. The performance of the economy during the recession and its immediate aftermath has been disappointing relative to the other G7 economies.

scholarly journals Labour Market Trends and Outlook

1970 ◽  
Author(s):  
Joselyn Stroombergen
Keyword(s):  
Economic Growth ◽  
Labour Market ◽  
Economic Performance ◽  
Productivity Growth ◽  
Inflation Rate ◽  
Labour Productivity ◽  
Easy Task ◽  
Labour Productivity Growth ◽  
The Face ◽  
Market Trends

Given New Zealand's recent robust economic performance, 3.6% per annum on average since 1999, the strong improvement in a wide array of la hour market indicators has not been surprising. What has surprised many economic commentators has been the continued strength of the labour market in the face of the recent slowing economic activity.The ability of the economy to make use of its labour capacity may have improved suggesting a fall in New Zealand's non-accelerating inflation rate of unemployment (NAIRU).With labour utilisation now stretched to the limit if we want to maintain economic growth at levels we have become accustomed to, we will need to substantially lift the level of labour productivity growth in the coming years. However making the transition to a more productive economy while maintaining the gains we have achieved in labour utilisation will not be an easy task.

International Agricultural Trade Reform and Developing Countries: The Case of the European Community

1998 ◽  
Vol 47 (3) ◽  
pp. 632-646
Author(s):  
Joseph A. McMahon
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Performance ◽  
Agricultural Policy ◽  
Poverty Alleviation ◽  
Agricultural Sector ◽  
Agricultural Trade ◽  
Trade Reform ◽  
Food Imports ◽  
Sustainable Economic Growth

We are all aware that agriculture is important to developing countries as a source of income, employment and export earnings. To a far greater extent than in the OECD countries, agriculture it central to the economic performance of developing countries and the livelihood of their inhabitants. Rural societies in developing countries are directly dependent on the agricultural sector and urban dwellers rely on agriculture to provide food security and sustainable economic growth. Furthermore, many developing countries heavily rely on the export earnings or are highly dependent on food imports. Given the fact that the poorest and most threatened communities and countries are typically the most highly dependent, the resolution of pressing global agricultural policy and trade issues is critical to sustainable development and poverty alleviation.

The Pattern of Economic Growth

2020 ◽  
pp. 66-98
Author(s):  
Tirthankar Roy
Keyword(s):  
Economic Growth ◽  
Statistical Data ◽  
Average Rate ◽  
Economic Change ◽  
National Income ◽  
The Other ◽  
Colonial India ◽  
Definite Pattern ◽  
Per Capita ◽  
The One

Economic change in colonial India followed a definite pattern. Chapter 3 describes the pattern with statistical data. The chapter shows that the average rate of growth of national income per capita was low, but that the average picture is misleading since the experiences of agriculture on the one hand and industry and services on the other differed greatly. The presence of dissimilar trajectories complicates the task of explaining the pattern of change. The chapter suggests that instead of asking if colonialism and globalization made India rich or poor, we should be asking why colonialism and globalization made some livelihoods rich and left some others poor. Chapter 3 surveys the statistical data that enables asking question like this one.

scholarly journals The UK Labour Market and the 2008-9 Recession

2010 ◽  
Vol 212 ◽  
pp. R61-R72 ◽  
Author(s):  
Paul Gregg ◽  
Jonathan Wadsworth
Keyword(s):  
Labour Market ◽  
Government Support ◽  
The Other ◽  
Fiscal Policies ◽  
Firm Profitability ◽  
Outflow Rate ◽  
Long Time ◽  
Employment Rates ◽  
The Uk

The recession of 2008–9 inflicted a larger cumulative loss of UK output than any of the other postwar recessions. Nevertheless, employment rates remained higher than might have been expected given the experience of previous recessions. The main reasons for this appear to be a combination of high firm profitability levels going into the recession, supportive monetary and fiscal policies during the recession, reductions in real producer wages and relatively buoyant real consumer wages. Unemployment had reached its lowest levels for 30 years going in to the latest recession and has also remained relatively subdued through the downturn, certainly compared to previous recessions. A combination of lower inflow rates into unemployment, allied with a relatively higher outflow rate into employment underlie this. As government support for the economy is scaled back, it may be however that it will take a long time for employment to return to levels last seen before the recession.

scholarly journals Feasibility of the Fintech Industry as an Innovation Platform for Sustainable Economic Growth in Korea

2019 ◽  
Vol 11 (19) ◽  
pp. 5351 ◽  
Author(s):  
Yong Jae Shin ◽  
Yongrok Choi
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Industrial Revolution ◽  
Financial Industry ◽  
Fourth Industrial Revolution ◽  
Linkage Effect ◽  
Forward Linkage ◽  
Almost All ◽  
Innovation Platform ◽  
Sustainable Economic Growth

This paper examines the feasibility of fintech as a platform for sustainable economic growth and as a prompter of the fourth industrial revolution. To analyze the role of fintech in the national economy, we first broaden its definition and compare its economic performance using three methodologies—Demand-driven model, Supply-driven model and industry linkage effect in interindustry analysis. We find that the fintech industry has a stronger effect on production inducement. Regarding industry linkage effects, fintech ranked the top in all 31 industries for the forward linkage effect and 22 for the background linkage effect—much higher than the traditional financial industry. This implies that the fintech industry is effective as the intermediate good with national demand as well as the final good. Particularly, this industry plays the roles of intermediate and final goods across almost all industries. That is, fintech could better promote overall national economic performance as a platform industry. Because most businesses within the fintech industry depend on innovation through the integration of finance and information technology, we find that fintech can feasibly prompt the fourth industrial revolution. Nonetheless, this industry is characterized by excessive regulations in Korea, indicating the need for negative regulation for new, innovative businesses within the fintech industry that would critically emphasize innovativeness for inclusive, sustainable economic growth.

Stagflation in the UK Since 1970: A Model-Based Explanation∗

1986 ◽  
Vol 117 ◽  
pp. 52-69 ◽  
Author(s):  
I.D. Saville ◽  
K.L. Gardiner
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Output Growth ◽  
Strong Growth ◽  
Model Based ◽  
Export Behaviour ◽  
Import And Export ◽  
Domestic Policies ◽  
The Uk

The UK's economic performance, like that in many industrial economies, worsened in the 1970s after about twenty years of relatively stable and strong growth and low inflation. This article investigates to what extent this worsening in performance can be attributed to factors outside the UK's control—to world recession—and how far it was the result of domestic policies. Simulations of the NIESR model suggest that about half of the slackening in output growth can be explained by these two sets of factors. Adverse trends in import and export behaviour appear the major behavioural impediment to faster economic growth.

scholarly journals QUARTERLY OUTLOOK ON MONETARY, BANKING, AND PAYMENT SYSTEM IN INDONESIA: QUARTER II, 2016

2016 ◽  
Vol 19 (1) ◽  
pp. 1-20
Author(s):  
TM Arief Machmud ◽  
Syachman Perdymer ◽  
Muslimin Anwar ◽  
Nurkholisoh Ibnu Aman ◽  
Tri Kurnia Ayu K ◽  
...  
Keyword(s):  
Economic Growth ◽  
Current Account Deficit ◽  
Policy Coordination ◽  
Domestic Demand ◽  
Monetary Authority ◽  
The Other ◽  
Fiscal Stimulus ◽  
Aggregate Growth ◽  
Sustainable Economic Growth ◽  
Macroeconomic Stability

The growth of Indonesian economy on Quarter II, 2016 increased with a well-maintained financial system and macroeconomic stability. Though the growth was not uniform across sectors, the aggregate growth has increased during this quarter, supported by domestic demand, fiscal stimulus, along with monetary policy ease. On the other hand, the macroeconomic stability was well preserved as reflected on inflation within the band target, a better current account deficit, and relatively stable Rupiah’s rate. This stable macroeconomic condition enabled the monetary authority to ease their policy. In the future, the policy coordination between the fiscal and the monetary authority is required, particularly on accelerating the implementation of structural reform, to support a sustainable economic growth.

scholarly journals Costs, Capabilities, Conflict and Cash: The Problem of Technology and Sustainable Economic Growth in Pakistan

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 65-98 ◽  
Author(s):  
Matthew McCartney
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
South Asia ◽  
World Bank ◽  
Productivity Growth ◽  
Structural Changes ◽  
Gdp Growth ◽  
Oriented Growth ◽  
Middle Income ◽  
Sustainable Economic Growth

Growth in Pakistan has been surprisingly sustainable. GDP growth of 5 percent p.a. since independence and no recession since (at least) 1960 according to World Bank data represents a creditable performance when compared to all but the most successful developing countries. Pakistan has significantly transformed the structure of its economy during these same decades; in 1950 99 percent of its exports were agricultural goods and by the 1990s exports were largely manufactured goods. This very success indicates a growing constraint on sustaining growth into the future or the concern that Pakistan may be headed for a Middle Income Trap. Although there does exist scope for continued growth based on further structural changes - in particular the large number of people still employed in agriculture or the women not currently engaged in the labor force - for growth to be sustained a more intensive or productivity-oriented growth will be necessary. This paper first outlines the importance of productivity growth for sustaining GDP growth in Pakistan, then examines the historical and comparative productivity performance of Pakistan, and explores a number of case studies of successful technological change, particularly in South Asia, and finally attempts to draw some lessons for contemporary Pakistan.

Recession and Economic Revival in Britain: The Role of Policy in the 1930s and 1980s

1999 ◽  
Vol 8 (1) ◽  
pp. 1-27 ◽  
Author(s):  
Michael Kitson
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Free Market ◽  
Growth Potential ◽  
Demand Side ◽  
Alternative Perspective ◽  
Long Run ◽  
The Uk ◽  
Market Economics

During the 1980s economic policy in the UK increasingly embraced free-market economics. For many, this was a necessary shift which improved economic performance, whereas previous periods of increased intervention, such as the 1930s, had harmed the UK economy. This article takes an alternative perspective. It argues that economic revival in the 1930s was primarily policy-induced; whereas economic growth in the 1980s can be largely explained by the unintentional demand side-effects of policy, with many of the free-market policies having, at best, a neutral impact and, in some cases, harming the long-run growth potential of the economy.

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