Description
Book SynopsisProvides a guide to policy priorities in small or regional economies. This work combines some of the world's leading economists' research insights with a discussion of the practicalities of implementing structural reforms. It is aimed at policymakers and scholars seeking avenues to improved growth, greater opportunity, and better governance.
Trade Review"New Wealth for Old Nations focuses on the challenge of improving prosperity in small open economies committed to social justice and environmental sustainability... The strengths of the collection lie mainly in the astute insights and systematic analysis in the individual chapters. The book is a valuable and polished set of essays with many interesting observations on the complex dynamics and drivers of regional economic development."--Ivan Turok, Journal of Regional Science
Table of ContentsPreface 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
