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Reflections on the Welsh economy: remanence, resilience and resourcefulness

Bristow, Gillian 2018. Reflections on the Welsh economy: remanence, resilience and resourcefulness. Welsh Economic Review 26 , pp. 13-20. 10.18573/wer.229

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Abstract

The challenges facing the Welsh economy are well known and understood, but are brought into sharp perspective by the fact that after twenty years of devolution and considerable policy effort, the Welsh economy today is exactly where it was in 1998 in relative performance terms. The critical question therefore becomes why - why does the Welsh economy continue to struggle to improve its relative economic performance in the UK? There are many factors at work of course and this short paper cannot possibly do justice to them all. Instead, this article seeks to highlight the value of taking an evolutionary perspective on the issues facing the Welsh economy. In other words, this seeks to understand how regional economies grow, adapt and change over time in line with the changes occurring in their external environment.

Item Type: Article
Date Type: Published Online
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HG Finance
Publisher: Cardiff University Press
ISSN: 2397-8716
Date of First Compliant Deposit: 5 February 2019
Date of Acceptance: 15 October 2018
Last Modified: 05 Feb 2019 10:15
URI: http://orca.cf.ac.uk/id/eprint/119194

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