The Political Economy of Small European States: And Lessons for Scotland

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Abstract

An independent Scotland would be a small European state. Small states may be at a disadvantage in world markets but can also adapt successfully. There are different modes of adaptation, notably the market-liberal mode and the social investment state. Either mode is dependent on internal institutions, social relationships and modes of policymaking. It is not possible to pick and choose items of different models since they have an internal coherence. The Scottish White Paper on independence supports the social investment state. Scotland has some, but not all, of the prerequisites for this so that independence would require internal adaptation.
Original languageEnglish
Pages (from-to)54-66
Number of pages14
JournalNational Institute Economic Review
Volume227
Issue number1
DOIs
Publication statusPublished - 6 Feb 2014

Keywords

  • Scotland
  • globalisation
  • political economy

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