Monetary Union.
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Can Fiscal Autonomy Improve a
Devolved Scotland's Economic Performance
Cuthbert, J.R., Cuthbert, M..: Scottish Affairs, no 41, (2002).
This is a contribution to a symposium on fiscal autonomy. We argue that one
important factor behind Scotland’s relative economic decline has been loss of
competitiveness associated with its membership of the UK monetary union: fiscal
autonomy solutions therefore have to be approached with great caution, unless
they involve the kind of powers which would enable Scotland to achieve a boost
in competitiveness equivalent to a significant devaluation, or a significant
interest rate cut, relative to the rest of the UK.
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this paper
The Prospects Facing an
Independent Scotland in the Euro, while the Rest of UK Stays Out
Cuthbert, J.R.: Scottish Affairs, No.45, (Autumn 2003).
Argues that an independent Scotland could have an advantageous entry path
into the Euro: but might face real problems thereafter. Also contains material
on the factors underlying Ireland’s economic success: also some of the problems
inherent in Ireland’s growing loss of competitiveness within the EU.
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Also see
accompanying charts.
Scotland Devolved and Monetary Union
Cuthbert, M.: Scottish Affairs, No.45, (Autumn 2003).
Considers Scotland’s performance in relation to Gordon Brown’s Five Tests, both
as a member of the UK monetary union, and as a potential member of the Euro
zone.
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Also see accompanying charts.