Deindustrialization in the UK: a comparison analysis with Japan |
| |
Authors: | Gentaro Matsumoto |
| |
Institution: | Department of Economics , Sapporo Unversity , 3–7 Nishioka, Toyohira-ku, Sapporo , 062 , Japan |
| |
Abstract: | As a mature economy, the UK has experienced continuous decline in manufacturing competitiveness under the process of deindustrialization. On the other hand, the service sector has been developing a comparative advantage and creating new jobs. This article attempts to recognize the change in inter-dependence between industries, particularly the manufacturing and service sectors, in the process of deindustrialization. Using partitioned multiplier effects, I analyse the extent to which deindustrialization, particularly expansion in the service sector, has benefited the UK economy. I show that the contribution of the service sector to the UK economy has not been significant. |
| |
Keywords: | |
|
|