Coyle / Alexander / Ashcroft New Wealth for Old Nations

Scotland's Economic Prospects
Course Book
ISBN: 978-1-4008-3561-4
Verlag: De Gruyter
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 256 Seiten, Web PDF

New Wealth for Old Nations provides a guide to policy priorities in small or regional economies. It will be of interest to policymakers, students, and scholars seeking avenues to improved growth, greater opportunity, and better governance. Some of the world's leading economists combine their research insights with a discussion of the practicalities of implementing structural reforms. Scotland is the ideal case study: the recent devolution of government in the United Kingdom offers a natural experiment in political economy, one whose lessons apply to almost any small, advanced economy.


One fundamental conclusion is that policy can make a big difference to long-term prosperity in small economies open to flows of knowledge, investment, and migrants. Indeed the difficulty in introducing growth-oriented policies lies more in the politics of implementing change than in the theoretical diagnosis. Public sector governance is consequently a key issue in creating a pro-growth consensus. And faster growth must be seen to improve opportunities for the population as a whole. Further, setting out the evidence--as this book does for Scotland--is vital to overcoming entrenched institutional barriers to policy reform. The first chapter is by Jo Armstrong, John McLaren, and the editors; and the subsequent chapters are by Paul Krugman, William Baumol, Edward Glaeser, Paul Hallwood and Ronald MacDonald, James Heckman and Dimitriy Masterov, Heather Joshi and Robert Wright, Nicholas Crafts, and John Bradley.

Autoren/Hrsg.

Coyle, Diane

Alexander, Wendy

Ashcroft, Brian

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein
• Sozialwissenschaften Politikwissenschaft Politikwissenschaft Allgemein Politische Globalisierung

Inhaltsverzeichnis

Preface vii

List of Contributors ix

Introduction 1

Chapter One: The Political Economy of Scotland, Past and Present by W. Alexander, J. Armstrong, B. Ashcroft, D. Coyle, J. McLaren 11

PART 1. GROWTH 33

Chapter Two: Second Winds for Industrial Regions? by P. Krugman 35

Chapter Three: Four Sources of Innovation and the Stimulation of Growth in the Scottish Economy by W. J. Baumol 48

Chapter Four: Four Challenges for Scotland's Cities by E. L. Glaeser 73

Chapter Five: The Economic Case for Fiscal Federalism by P. Hallwood and R. MacDonald 96

PART 2. OPPORTUNITY 117

Chapter Six: Skill Policies for Scotland by J. J. Heckman and D. V. Masterov 119

Chapter Seven: Starting Life in Scotland by H. E. Joshi and R. E. Wright 166

PART 3. GOVERNANCE 187

Chapter Eight: High-Quality Public Services by N. Crafts 189

Chapter Nine: Committing to Growth in a Small European Country by J. Bradley 210

Chapter Ten: Conclusions 232

Über Autor(innen)

Diane Coyle is a consultant and member of the United Kingdom's Competition Commission and a Visiting Professor at the University of Manchester's Institute of Political and Economic Governance. Wendy Alexander is a Member of the Scottish Parliament and former Scottish Minister for Enterprise, Transport, and Lifelong Learning. Brian Ashcroft is Professor of Economics and Policy Director of the Fraser of Allander Institute for Research on the Scottish Economy at the University of Strathclyde.