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This paper uses time series data on UK book sales to establish what correlation exists between the national income of a country and its sales of books. This is tested by comparing series data in real terms for GDP per capita and for various data series for the UK market, including sales invoiced by publishers and point of sale data on consumer purchasing. The first period, from 1985 to 1999, shows a strong relationship between total sales and GDP per capita. In the second period, from 2001 to 2015, the link appears to disappear when we examine invoiced sales from publishers, even before the impact of the 2008 crisis. This is also including the growth of digital sales towards the end of the period. The direct consumer data shows sales tracking GDP until the onset of the financial crisis; thereafter the only trade sector to have kept pace with GDP is children's, and this contrasts with the areas of adult fiction and non-fiction. Have we therefore seen a structural shift in the book market? If we have passed peak book, what has brought about this uncoupling of book sales from economic growth? Factors are considered including changes in retail, competition from other media, and a prioritization of experience over the accumulation of stuff. [ABSTRACT FROM AUTHOR]

This paper re-examines the link between new firm formation and subsequent employment growth. It investigates whether it is possible to have the wrong type of entrepreneurship—defined as new firm formation which leads to zero or even negative subsequent employment growth. It uses a very similar approach to that of Fritsch and Mueller (Regional Studies, 38(8), 961–976, 2004), confirming their findings that the employment impact of new firm formation is in three discrete phases. Then, using data for Great Britain, the paper shows the employment impact of new firm formation is significantly positive in the high-enterprise counties of Great Britain. However, for the low-enterprise counties, it shows that new firm formation has a negative effect on employment. Of the 15 low-enterprise regions, eight are Scottish (of nine Scottish regions in our data base) and three are North East Counties (of four). Our findings imply that having the “wrong type of entrepreneurship” is indeed possible. [ABSTRACT FROM AUTHOR]

The objective of this paper is to examine the Wagner's law validity, and whether it can explain the U.K. public spending expansion for the period 1850–2010. According to Wagner's Law, economic development is the key determinant to public sector growth. Accordingly, the public sector grows overproportionally compared to national income when economies develop. We test this hypothesis for the UK. The data covers a period in which the U.K. economy experienced increased economic growth, government spending and met most of the assumption of Wagner's Law (industrialisation, urbanisation, increased population). Furthermore, the long data set ensures the reliability of our results in terms of statistical and economic conclusions. We apply unit root tests, unit root tests with structural breaks, cointegration techniques and the Granger causality test. Our results indicate a presence of a long run relationship between national income and government spending, while the causality is bi-directional, thus we find support for Wagner's and Keynesian hypotheses. [ABSTRACT FROM AUTHOR]

Using long historical data for Britain over the period 1620-2006, this paper seeks to explain the importance of innovative activity, population growth and other factors in inducing the transition from the Malthusian trap to the post-Malthusian growth regime. Furthermore, the paper tests the ability of two competing second-generation endogenous growth models to account for the British growth experience. The results suggest that innovative activity was an important force in shaping the Industrial Revolution and that the British growth experience is consistent with Schumpeterian growth theory. [ABSTRACT FROM AUTHOR]

Thanks to numerous empirical research studies, a general consensus has been reached on the effects of labor unionization on the economy such as unemployment and economic growth (GDP). However, most of the previous research examines the effects of labor unionization on the U.S. and U.K. labor markets using multiple regression models. By applying different statistical tools (multivariate cointegration analysis and vector error correction model) to Korean data, this paper finds: (1) there is a long-run equilibrium linkage among unionization, unemployment and economic growth; and (2) unionization unidirectionally and significantly Granger-causes unemployment and economic growth. [ABSTRACT FROM AUTHOR]

Innovation is an integral part of economic development in developed economies. In the post 2008 period, a key policy agenda is that of sustainable development, which calls for innovation in all aspects of value-chains. In this paper, we focus on innovation from the biotech-pharma perspective to see whether or not this will lead to a sustainable future for the regions where there are clusters of firms in this sector. We examine data from a recently completed European Union study of innovation in the Healthcare sector from the UK and Switzerland, countries with an historical base in pharma, to understand how innovation pathways vary at the regional level in the broader life sciences, which incorporate biotech and more. Innovation in the healthcare sector in two regions, Oxfordshire in the UK and Zurich in Switzerland are compared. We contextualize our discussion by drawing on studies that focus on the sector in the US, specifically Boston. The analytical framework comprises three elements: innovation systems and national and regional economic development theories are the first two, followed by approaches which consider organizational or institutional activity. This framework is used to help explain and understand the complexity of how innovation is organized at the sub-national level. The overall context is that it is increasing becoming a condition for government financing of research that it has more immediate application in industry or have the possibility of commercialisation (e.g., translational research). [ABSTRACT FROM AUTHOR]

Very few developed economies have a full free trade agreement (FTA) with China. This study employs one GTAP model and builds an extended environmental multi-region input–output model to investigate a hypothetical China-UK FTA, concerning embodied industrial emissions of SO2, PM2.5, NOX, and NH3. The economic sectors are also classified based on their embodied pollution intensity and trade advantage index under various FTA scenarios. Results show that the UK's GDP and welfare and China's welfare will increase, along with changes in their trade structures. Overall, this FTA brings about larger net impacts on embodied emissions of SO2 than on PM2.5, NOX and NH3, and both countries are net importers of the latter three pollutants. Key sectors such as non-metallic mineral products, chemical products, and agriculture are inclined to become less competitive and less polluting under the FTA. The inclusion of agri-food sectors exhibits slight counteracting effects in general. The findings are of policy importance as they provide insights into how best to target key sectors, seeking a balance between trade development and environmental protection. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between organisation structure and innovation performance in a large sample of UK small and medium-sized enterprises. It asks whether there is an optimal structure and whether this differs between different firm environments and between young and older firms. We find that the influences on the ability to innovate differ from those on the commercialisation of innovations. We show that decentralised decision-making, supported by a formal structure and written plans, supports the ability to innovate in most circumstances and is superior to other structures. We also find some evidence that young firms operating in high technology sectors with informal structures have a greater tendency to be innovative. In addition, we find very few differences between young and older firms in terms of their optimal structures in low technology sectors. [ABSTRACT FROM AUTHOR]

The paper presents research findings on the role of universities in forming partnerships for local economic regeneration as seen through the eyes of potential partners The move by universities into the local arena is viewed against a backcloth of an expanding higher education system, the need to establish a 'niche market' and an ever present financial imperative. The views of other agencies and organisations reveal the existence of a deep cultural divide between them and universities which has consequences for the roles universities see themselves as playing, for the management of institutions and for their mod of operation in regeneration networks. The paper identifies how universities should respond if they are to meet partners' concerns. [ABSTRACT FROM AUTHOR]

The global financial crisis which emanated from the USA has led to the development of indices for economic policy uncertainty for some developed and developing nations. Also, the current Brexit debate in the UK is a major economic influencer. 'News of news' or 'news of no News' in the daily newspapers in the USA and UK causes global economic uncertainty which has an aftermath reaction on the global economy. This study considers economic uncertainties in G7 countries using economic policy uncertainty indices developed majorly from newspapers information. The long-range dependence technique in time series was first carried out, and the results reveal an evidence of time series persistence for each country's index. This provided justification for the adoption of cointegration in a fractional integration set-up using the fractional cointegrating vector autoregressive model recently proposed. The long-run equilibrium results obtained showed that the USA and UK are dominant drivers of economic uncertainty among the G7 countries. [ABSTRACT FROM AUTHOR]

The article discusses the plans of the British government to invest 600 million pounds to science projects in recognition of the country's need to develop a more high-tech economy to promote sustainable growth.

Marine management developments are occurring across the United Kingdom with the major aim to ensure economic growth and security of marine resources via the provision of legislative guidelines for sustainable management of activities within the marine environment. Many of these directives also provide guidance for maintaining ecologically valuable and/or endangered species and habitats that exist alongside, and may also support, marine activities/use. Marine governance is largely guided by several key directives laid out and implemented by governing authorities of Europe, the United Kingdom and those countries comprising the United Kingdom, and in line with several international conventions. The directives set out by each authority or convention may act discretely but more often tend to overlap, which can lead to confusion about the relevant marine conservation requirements and objectives that must be fulfilled for a given region, site or feature. Additionally, management objectives driven by the same legislation may oppose one another, adding further complexity to the matter. This article aims to provide an overview of governance that holds relevance to managing marine habitats and species, especially those deemed sensitive, ecologically valuable and/or endangered. A general overview and summary schematic tool of the marine governance, legislation and designations within each level of authority for the United Kingdom are provided. Additional consideration of the implications for legislation upon the United Kingdom leaving the EU is briefly discussed and a comparative case study of two marine habitats of high conservation value is provided to demonstrate how different sites/features may have considerably different management requirements. [ABSTRACT FROM AUTHOR]

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New economic geography models typically predict centripetal economic development. One process by which this might be brought about is if large companies based in the core of the economy buy up and remove small dynamic enterprises from peripheral regions, thereby suppressing development outside the core. This hypothesis is investigated by analysing the very large UK administrative firm-level Business Structure Database. Contrary to the experience of big firms, more productive small businesses are more subject to takeover-although this effect is weaker if they are located in peripheral regions. Takeovers also increase the chances of a small and medium-sized enterprise (SME) closing, but the exit consequence is greater for the core region. Takeovers raise productivity after acquisition in all regions but by less for the most productive SMEs. Ignoring any productivity gains to acquiring firms, the positive impact in the core region during the years considered is slightly larger than in the periphery, principally because takeovers are more common in the core. As this impact is a contributor to regional divergence, policy should aim to improve the operation of the market for SMEs in the periphery. [ABSTRACT FROM AUTHOR]

Theories of firm growth are reviewed and various models examined. The firm growth and job generation process in the UK over the period 1985-87, is examined empirically, by using the very large data files of the Dun and Bradstreet credit rating organisation. In the analysis, four computer processes were carried out; the sorting and matching of files, the cleaning of the data, the validation of the cleaned data, and the scaling up the results. The final adjusted data were grossed-up to provide an overview of the growth and job generation potential of UK firms. This is compared with past results for the periods 1971-81, and 1982-84. Small firms performed well, providing 48% of all new jobs, although consisting of only 21% of all employment in 1985. The 1000+ employee range provided only 137o of all new jobs over the period, although consisting of 37% of all employment in 1985. An overall trend of positive performance in smaller firms, and negative in larger firms was apparent. The 20-49 employee cohort performed unusually poorly in firm and job creation, against the expected pattern. The effect of takeovers, mergers and rationalisations on employment was examined. As expected, there was negligible restructuring of small firms, but over 5% of employees in the largest 1000+ cohort were involved in some form of reorganisation. In this and the two previous studies for 1971-81 and 1982-84, we found a consistent pattern of small firms as net generators of jobs, and large firms as net losers. This overall net behaviour is essential for the overall stability of the population, and can not be seen in 'good' or 'bad' terms. Bolton in 1971 found that the UK had an unduly small and weak small-firm sector. That trend to concentration is being reversed. [ABSTRACT FROM AUTHOR]

The article discusses the relationship of gross domestic products (GDP) and the economy in measuring the economic growth in United kingdom.