Structural Change under New Labour
University of Cambridge - Faculty of Economics and Politics
University of Oxford - Department of Economics
University of Cambridge - Department of Applied Economics
Cambridge Journal of Economics, Vol. 31, Issue 6, pp. 845-861, 2007
The paper examines specific features of structural change in the UK since 1997, contrasting the decline in industrial jobs with the rise in a variety of service jobs. It examines the proximate causes of structural change, in particular whether the chronically slow growth of manufacturing output in the 1980s has persisted. The implications of this structural change are considered, particularly the effects on the balance of payments and regional employment patterns. The paper suggests that the main impact of government policies on regional employment may have been through the direct and multiplier effects of public expenditure.
Keywords: Structural change, Deindustrialisation, Balance of payments, Regional employment, New Labour economic policies
JEL Classification: E6, E65, F32, J6, R10Accepted Paper Series
Date posted: June 16, 2008
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