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British Economic Growth Since 1945: Relative Economic Decline .... and Renaissance?

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Author Info

  • Bean, Charles R
  • Crafts, Nicholas

Abstract

The paper contains a thorough review of explanations for the weak British growth performance of the 1950s through the 1970s and an assessment of the long-term implications of the 1980s attempt to escape from relative decline. The analysis draws on recent work in growth theory and places institutions and government policy at the heart of the growth process. We illustrate the possible adverse effects of industrial relations and social contracts on pre-1979 performance and highlight the difficulty of measuring the role of human capital. We believe the jury is still out on the implications for long-term growth potential of the post-1979 policy changes.

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File URL: http://www.cepr.org/pubs/dps/DP1092.asp
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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1092.

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Date of creation: Jan 1995
Date of revision:
Handle: RePEc:cpr:ceprdp:1092

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Related research

Keywords: Economic Growth; Human Capital; Industrial Relations; Total Factor Productivity; UK;

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Cited by:
  1. David Metcalf, 2002. "Unions and Productivity, Financial Performance and Investment: International Evidence," CEP Discussion Papers dp0539, Centre for Economic Performance, LSE.
  2. Crafts, Nicholas & Toniolo, Gianni, 2008. "European Economic Growth, 1950-2005: An Overview," CEPR Discussion Papers 6863, C.E.P.R. Discussion Papers.
  3. Boone, J., 1997. "Technological progress and unemployment," Discussion Paper 1997-117, Tilburg University, Center for Economic Research.
  4. Stephen Nickell & John Van Reenen, 2001. "Technological Innovation and Performance in the United Kingdom," CEP Discussion Papers dp0488, Centre for Economic Performance, LSE.
  5. repec:cge:warwcg:01 is not listed on IDEAS

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