We found a match
Your institution may have rights to this item. Sign in to continue.
- Title
TRENDS AND CYCLES IN IMPORT PENETRATION IN THE UK.
- Authors
Hughes, James J.; Thirlwall, A. P.
- Abstract
The article describes trends in import-penetration in the British manufacturing industry since 1963 and examines the hypothesis that deviations from trend are significantly related to the pressure of demand for labour in individual industries. In 1968 the Brookings study of the British Economy noted that in common with other countries external trade had been growing faster than domestic commerce, but it uncovered nothing to suggest that British import performance was in any sense unusual. In 1965 Great Britain exported 24.4 per cent of gross national product and imported 24.5 per cent. The main factors influencing the growth of imports are the growth of domestic incomes, changes in the relative competitiveness of domestic goods and changes in the capacity of the domestic economy to meet the demands, both domestic and foreign, that are placed upon it. In discussions of the impact of capacity constraints on import penetration, more often than not the capacity constraint is thought to be on the capital side, resulting from inadequate past investment.
- Subjects
UNITED Kingdom; IMPORTS; INTERNATIONAL trade; MANUFACTURING industries; LABOR; INVESTMENTS
- Publication
Oxford Bulletin of Economics & Statistics, 1977, Vol 39, Issue 4, p301
- ISSN
0305-9049
- Publication type
Article
- DOI
10.1111/j.1468-0084.1977.mp39004004.x