英国毕业论文范文 [9]
论文作者:英语论文论文属性:硕士毕业论文 thesis登出时间:2014-08-30编辑:yangcheng点击率:14954
论文字数:7547论文编号:org201408292247246547语种:英语 English地区:爱尔兰价格:免费论文
关键词:英国论文UK EconomyConsumption Expenditure消费支出英国论文
摘要:本文是一篇英国留学生论文,本文重点研究的是英国 “消费支出”的趋势和对其趋势的分析。在18世纪和19世纪时期,英国是世界上第一个实现工业化的国家,伦敦仍然被认为是世界四大金融中心之一。
er, the interest rates were increased from 12% to 15% to attract flow of capital but since these were not feasible in the long run the sell-off of Pounds continued forcing the government to leave the ERM. The Pound lost 15% and the interest rates were cut allowing the economy to finally recover in around 6 months.
Hence the major reason of recession in this period was the government's efforts to keep the Pound artificially high.
Long Term Consequences
The eventful decade of 1985 to 1995 caused the following significant changes in the broad economic policy of Britain.
* UK's reluctance to accept a common currency with rest of Europe and delayed entry into the Euro group
* Loss of control of inflation control for the finance ministry and transfer of control to the central bank
*x axis: Timeline y axis: Growth rate
Consumption Expenditure Trend Analysis
The impact of these policies and the corresponding effects on the Consumer Expenditure can be explained from an analysis of the relationship between the three components of consumption expenditure from the graphs plotted above.
The growth of GDP and the corresponding increase in consumer expenditure in the Lawson Boom years was a direct consequence of increased housing expenditure due to a loose fiscal policy. As we can see from the growth plots the period of 1986-89 has very high growth rates for household consumption while the government consumption component is relatively stagnant. This was a direct result of the increased liquidity in the hand of the general public and the policies of the government encouraging a very high velocity of money.
On the other hand the period of early 1990's shows a drastic decline in the household consumption while the government induced consumption shows explosive growth which is contrary to the lower spending prevalent in the economy in a recessionary phase. This is a consequence of the government's increased spending to prevent the recessionary slide while at the same time the heightened inflation and growing unemployment cause a reduction in the propensity and ability of the masses to consume goods causing a decline.
The overall Consumption Expenditure for this period moves in accordance with household expenditure (which in turn corresponds to the trend followed by GDP growth) as household expenditure is the major component (60-65%) of consumption in UK for this time frame.
Blair's Era (1997 - 2006)
Tony Blair took the charge of UK's Prime Ministerial office in 1997 & remained at that position till 2007. The Blair era can be broken down into following major economic periods:
The Watershed Years (1997-2000)
In May 1997, 4 days after winning election, Chancellor Gordon Brown set Bank of England independent of any political control. The 1997 Asian Financial Crisis was a period of financial crisis that gripped much of Asia beginning in July, 97. This raised a fear of worldwide economic meltdown due to financial contagion. As UK had a great exposure to Asian countries so this economic shock had its impact on UK economy as well. The result was a decrease in net disposable income and decrease in consumption. Along with this economic and financial crisis of Russia impacted UK economy but not up to that extent. In April 1998 Sterling Exch
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