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How diversified is New England?

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  • Eric Rosengren

Abstract

Despite steady growth in the United States economy over the past eight years, several regions of the country have suffered severe economic slumps. Oil-producing and agricultural states in particular have experienced economic conditions that usually occur only during national recessions. Lack of diversity in the economies of these regions contributed to their economic problems. ; Recently, it has been New Englands turn; its economic performance has deteriorated significantly. This article examines the diversity of the New England economy. The author finds that New England has a diverse industrial base and that this should, in the absence of a major national downturn, help prevent a recession of the magnitude experienced earlier in farming and oil-producing states.

Suggested Citation

  • Eric Rosengren, 1990. "How diversified is New England?," New England Economic Review, Federal Reserve Bank of Boston, issue Nov, pages 3-16.
    • Handle: RePEc:fip:fedbne:y:1990:i:nov:p:3-16
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    File URL: http://www.bostonfed.org/economic/neer/neer1990/neer690a.pdf
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    References listed on IDEAS

    as
    1. Michael J. Wasylenko & Rodney A. Erickson, 1978. ""On Measuring Economic Diversification": Comment," Land Economics, University of Wisconsin Press, vol. 54(1), pages 106-109.
    2. William C. Gruben & Keith R. Phillips, 1989. "Diversifying Texas: recent history and prospects," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Jul, pages 1-12.
    3. Thomas B. Fomby & Joseph G. Hirschberg, 1989. "Texas in transition: dependence on oil and the national economy," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Jan, pages 11-28.
    4. Carolyn Sherwood-Call, 1988. "Exploring the relationships between national and regional economic fluctuations," Economic Review, Federal Reserve Bank of San Francisco, issue Sum, pages 15-25.
    5. John R. Kort, 1981. "Regional Economic Instability and Industrial Diversification in the U.S," Land Economics, University of Wisconsin Press, vol. 57(4), pages 596-608.
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    Cited by:

    1. Geoffrey M. B. Tootell, 1991. "Regional economic conditions and the FOMC votes of district presidents," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 3-16.
    2. 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.
    3. 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.
    4. 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.
    5. Katerina Simons, 1990. "New England banks and the Texas experience," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 55-62.
    6. Salvary, Stanley, 2007. "The impact of firm-type dominance on regional manufacturing growth," MPRA Paper 4623, University Library of Munich, Germany.

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    Keywords

    Regional economics; New England;

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