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Oil revenues and manufacturing output

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Author Info

  • P. J. Forsyth
  • J. A. Kay

Abstract

In our article in the July 1980 issue of Fiscal Studies, we examined the impact of the growth of North Sea oil production on the domestic economy. A major conclusion of that article was that 'the contraction of manufacturing output, and an increase in domestic absorption on imported manufactures, are the only means by which the British economy can benefit from the North Sea'. That conclusion has been the subject of considerable controversy. In this paper, we attempt to evaluate some of the criticisms which have been made of our analysis and present some extensions and qualifications.

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Bibliographic Info

Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 2 (1981)
Issue (Month): 2 (July)
Pages: 9-17

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Handle: RePEc:ifs:fistud:v:2:y:1981:i:2:p:9-17

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Cited by:
  1. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
  2. Frederick van der Ploeg, 2008. "Challenges and Opportunities for Resource Rich Economies," OxCarre Working Papers 005, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  3. Francesco Guidi, 2010. "The Economic Effects of Oil Prices Shocks on the UK Manufacturing and Services Sectors," The IUP Journal of Applied Economics, IUP Publications, vol. 0(4), pages 5-34, October.

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