Economics Observatory | Insights on the UK and global economy

Have the UK’s northern cities really experienced a productivity miracle?

While official data points to a ‘productivity miracle’ in several large northern cities since 2019, a closer look suggests otherwise. This serves as a reminder to sense-check any data before using it, regardless of the source.

Playfair prize

Student data journalism

Nations, regions & cities

How might policy-makers improve Moldova’s economic prospects?

Compared with other former Soviet territories, Moldova is an outlier in terms of its poor economic performance. Political instability, together with a heavy dependence on remittances as well as international loans, means policy-makers must work carefully to improve living standards through strategic reforms and closer alignment with Europe.

DATA HUB

Renewable energy jobs in the G7

Germany leads the G7 in renewable-energy employment, with 8,800 jobs per million workers.

The UK ranks near the bottom — just above Japan — with 2,950 jobs per million in the sector.

Click here to read how the target sectors in the UK’s Industrial Strategy compare across the G7.

Aid & international development

What are the big economic challenges facing the government in Iran?

Policy-makers in Iran face numerous economic challenges. The impacts of Covid-19 and the war in Ukraine – together with longer-term issues related to high unemployment, rising inflation and worsening corruption – represent a difficult puzzle for Ebrahim Raisi’s government to solve.

MAGAZINE

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The Venezuelan economy has suffered from decades of disastrous economic policies – and more recently, from economic sanctions. The country has seen the largest ever decline in living standards outside war, revolution or the collapse of the state.

Nations, regions & cities

From crisis to stability: what next for Bolivia’s economy?

Bolivia is at a decisive moment in its modern economic and political history, after nearly two decades of dominance by the Movement Toward Socialism party. Whoever ends up taking charge will need to draw up an economic stabilisation programme – though implementing it will be challenging.

Trade & supply chains

What effects have energy sanctions had on Russia’s ability to wage war?

Despite facing unprecedented sanctions on its energy exports, Russia continues to earn hundreds of billions of dollars a year from oil and gas – directly funding military aggression in Ukraine. While sanctions have had a noticeable impact, they have failed to end the war.

Nations, regions & cities

What role could migration play in the reconstruction of Ukraine?

Russia’s full-scale invasion of Ukraine has triggered the largest refugee crisis in Europe since World War II, with nearly six million Ukrainians displaced worldwide. This creates a critical challenge looking ahead to post-war reconstruction. With over 200,000 Ukrainians currently here in the UK, policy-makers must consider both the current needs of refugees and how the diaspora can help to support economic recovery in Ukraine.

Lessons from history

Can researchers predict conflicts and their consequences?

Wars have many economic, political and social consequences. From changes to technology, to the re-drawing of borders, to mass losses of life, conflicts shape human history. They are also extremely challenging to predict – both in terms of their causes and effects.

Data stories

What can Christmas dinner tell us about inflation?

Digital microdata reveal nuance in the price of the holiday season’s most important meal, while historical records highlight how the cost of key ingredients has changed over decades.

Schools, universities & training

UK higher education finance: what’s the problem and what can be done?

The tripling of tuition fees in 2012 put universities in a strong financial position. But since then, fees – and the maintenance loans that support students – haven’t kept up with inflation. Now, students face real hardship and some universities seem to be in deep financial difficulties.

Lessons from history

Can UK trade unions recover their post-war power?

Recent strikes and the pay offers that followed have led to a renewed focus on what trade unions can achieve. There has been much invocation of their post-war influence. But recovering that power would require significant changes in UK politics, the law and how unions themselves work.

Health, physical & mental

Why should we care about obesity?

Obesity is increasing in the UK and around the world, including among children from disadvantaged backgrounds. As well as immediate health effects, obesity can have an impact on young people’s learning and future prospects.

Inequality & poverty

Does Adam Smith's theory really imply today's inequality?

What was the ideal economic system for Adam Smith? His writings disapprove of high profits and advocate regulation, a minimum wage and well-designed taxes.

Lessons from history

Where is the wealth of nations in the 21st century?

In the 21st century, as the globe faces the threat of climate change, an understanding of the wealth of a nation needs to extend beyond measures of income to include natural capital and biodiversity.

All Answers