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Focus: Supply‐Side Improvements in UK Exporting of Manufactures
Author(s) -
HOLLY SEAN,
WADE KEITH
Publication year - 1989
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1989.tb00826.x
Subject(s) - supply side , economics , productivity , current account , international economics , macroeconomics , exchange rate
The present difficulties with the UK current account deficit have breathed new life into longstanding doubts in some quarters about the fundamental state of UK manufacturing, despite the supply side reforms of the last ten years and the large increases in labour productivity. The deterioration in trade in manufactured goods from a small surplus of £2bn in 1982 to a deficit of £21bn in 1988, is taken to be the most stark illustration of this deep structural malaise.