Jagjit Chadha - Economics: Blueprint for Brexit Britain

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source: GreshamCollege       2017年10月4日
The transcript and downloadable versions of the lectures are available from the Gresham College website: https://www.gresham.ac.uk/lectures-an...
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48:09 The Productivity Puzzle 
Productivity growth in the UK economy has lagged behind that of our major trading partners. With little or no growth in labour or total factor productivity, there can be no solution to our economic problems and a return to what we have come to consider as normal times.
We will examine a number of possible explanations ranging from the role of finance to the employment of physical and human capital.
52:43 Mobilising Savings for Investment 
We will carefully outline the categories of savings held by households and link that to the operation of financial intermediaries in providing loanable funds.
We shall ask whether the allocation of savings and the availability of funds provides the right mix of short and long term loans for households and firms.
50:50 The Housing Market 
Housing represents the main asset class held by UK households and we shall try to understand why it is held as such a large share of assets. We shall then outline whether this choice has other knock on effects in the economy such as labour and social mobility. And what the case is for changes the tax treatment of housing.
57:24 The Structure of Finance
In the traditional model of finance, households saved and firms borrowed through financial intermediaries. Those financial intermediaries might be banks or pension funds but the experience of intermediation in the UK does not encourage the thought that long term finance can easily be located. Do we need a Development Bank?
52:13 Regional, Industrial and Infrastructure Policies 
There are large disparities in economic performance at the regional level in the UK. We need to consider what kinds of policies might raise regional performance and the extent which directed industrial policies and infrastructure spending might be employed to iron out differences in regional performance. The evidence will be considered.

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