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The downturn in the New England economy: what lies behind it?

Author

Listed:
  • Edward Moscovitch

Abstract

After a long period of vigorous growth--a period in which New England grew faster than the rest of the United States--employment in New England leveled off in 1989. This slowdown represents both a cyclical adjustment and a disturbing erosion in New Englands competitive position. ; To help clarify the causes of the downturn and the implications for the regions future development, this article develops a framework for analyzing regional economies, applies that framework to New England and other regions of interest, and examines New Englands share of national markets in key industries. The author finds that New Englands strong overall growth since 1984 was based on an unsustainable boom in construction, which masked problems in the regions economic base going back at least five years.

Suggested Citation

  • Edward Moscovitch, 1990. "The downturn in the New England economy: what lies behind it?," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 53-65.
    • Handle: RePEc:fip:fedbne:y:1990:i:jul:p:53-65
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    File URL: http://www.bostonfed.org/economic/neer/neer1990/neer490d.pdf
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    Citations

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    Cited by:

    1. Katharine L. Bradbury & Yolanda Kodrzycki, 1992. "What past recoveries say about the outlook for New England," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 15-32.
    2. Lynn E. Browne, 1992. "Why New England went the way of Texas rather than California," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 23-41.
    3. Karl E. Case, 1992. "The Real Estate Cycle and the Economy: Consequences of the Massachusetts Boom of 1984-87," Urban Studies, Urban Studies Journal Limited, vol. 29(2), pages 171-183, April.
    4. Karl E. Case, 2000. "Real Estate and Macroeconomy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(2), pages 119-162.
    5. Lisa Morris Grobar, 1996. "Comparing The New England And Southern California Regional Recessions," Contemporary Economic Policy, Western Economic Association International, vol. 14(3), pages 71-84, July.
    6. D'Ann M. Petersen & Keith R. Phillips & Mine K. Yücel, 1994. "The Texas construction sector: the tail that wagged the dog," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q II, pages 23-33.

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