Economic Growth and Productivity

Whyman, Philip B.; Petrescu, Alina Ileana.

doi:10.1007/978-3-030-55948-9_7

Philip B. Whyman³ &
Alina Ileana. Petrescu⁴

1296 Accesses

Abstract

One of the more contested elements of economic analyses of Brexit impact concerns productivity and growth effects. This chapter examines the proposition that there is a link between openness and growth, alongside competition and productivity. It questions whether openness is acting as a proxy for other factors, such as economies of scale and the rate of capital formation, which can be influenced by other determinants, such as the level and growth of aggregate demand. This chapter examines the question of whether EU membership reversed what was perceived at the time of accession to be the UK’s relative decline, and it examines how the UK’s current large trade deficit might constrain growth rates.

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Lancashire Sch of Bus & Ent, LIEBR, University of Central Lancashire, PRESTON, UK
Philip B. Whyman
School of Business, University of Central Lancashire, PRESTON, UK
Alina Ileana. Petrescu

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Whyman, P.B., Petrescu, A.I. (2020). Economic Growth and Productivity. In: The Economics of Brexit. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-55948-9_7

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DOI: https://doi.org/10.1007/978-3-030-55948-9_7
Published: 06 January 2021
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