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Commentary: Growth Prospects and Financial Services

Published online by Cambridge University Press:  26 March 2020

Martin Weale
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Extract

Over the past twenty years the expansion of the British economy has been supported by growth in the financial services industry. With the onset of the financial crisis it seems most unlikely that the financial services industry can, in the future, act as the sort of motor of growth that it had done in the past. This commentary provides an overview of the role of the financial services sector in the economy over the past twenty years and assesses likely developments in the future. It first assesses the contribution of the sector to the economy and then considers the issues surrounding its likely shape in the future.

Type
Article Commentary
Information
National Institute Economic Review , Volume 207 , January 2009 , pp. 4 - 9
Copyright
Copyright © 2009 National Institute of Economic and Social Research

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