haku: @author Martin, B. / yhteensä: 7
viite: 3 / 7
Tekijä: | Martin, B. |
Otsikko: | Prospects for the British economy. |
Lehti: | Economic Affairs
1993 : NOV-DEC, VOL. 14:1, p. 5-12 |
Asiasana: | UNITED KINGDOM BUDGET TRADE INFLATION ECONOMIC GROWTH |
Kieli: | eng |
Tiivistelmä: | The author sees good prospects in the short term with economic growth proceeding , no serious inflationary threat, some drop in the budget deficit and an inflow of international capital. Looking farther ahead, he sees the economy on an "unsustainable path" and warns of a twin- deficit syndrome - budget and trade. The unprecedented budget deficit is the root cause of the unprecedented trade deficit. The twin-deficit syndrome duly transmogrifies into a 'one-deficit horror' - a sterling collapse and much higher rates of inflation, rising potentially to 10% on author's calculations. It is likely that the economy eventually provide its own remedy for decade's fiscal incontinence - in the shape of currency flight and a substantial inflation tax on currently unsuspecting holders of government debt. |
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