Financial accelerator effects in UK business cycles

Quarterly Bulletin 2002 Q1
Published on 01 March 2002

By Simon Hall

The depth and persistence of the UK recession of the early 1990s came as a surprise to many forecasters, particularly the prolonged weakness of corporate investment growth. Views on the causes of sluggish investment growth in this period vary. However, a number of subsequent analyses have suggested a potential role for financial factors, noting the coincidence of weak corporate investment with a marked financial retrenchment by the sector.

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