摘要:
In the first half of this year the current account deficit widened sharply to £5.6bn, well above the Chancellor's full‐year Budget forecast of £4bn and our own most recent forecast of £5bn. In thisForecast Release,we show that imports have continued to grow very rapidly but export growth has slowed down. This is in contrast to 1987 when exports were strong, very nearly keeping pace with imports. It can be said therefore that this year's balance of payments deterioration owes more to a failure of exports than to rising imports. As to why this has happened, we show that part of the explanation is a two‐year decline in UK competitiveness but that the more important cause is the continuing strength of domestic demand which has not only sucked in imports but also diverted possible exports to the home
ISSN:0140-489X
DOI:10.1111/j.1468-0319.1988.tb00383.x
出版商:Blackwell Publishing Ltd
年代:1988
数据来源: WILEY