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How diversified is New England?

Author

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  • Eric S. 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 England’s 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 S. 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. 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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    Citations

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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 K. 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. Salvary, Stanley, 2007. "The impact of firm-type dominance on regional manufacturing growth," MPRA Paper 4623, University Library of Munich, Germany.

    More about this item

    Keywords

    Regional economics ; New England;

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