ECONOMIC DEVELOPMENTS IN THE UNITED KINGDOM: A LONG-TERM PERSPECTIVE (2008–2024)

Öz

In this research, I conducted an analysis of the macroeconomic situation of the United Kingdom throughout various periods starting from the 2008 Global Financial Crisis and including topics such as Brexit, COVID-19, and the political instabilities that have affected the UK economy. I have used historical data and macroeconomics indicators, turned them into charts and also quoted from policy reports and interviews to further detail my research. Also, I have tried not to limit my analysis solely to macroeconomic data but also used political events and milestones to show how political turmoil can wreck investor confidence. The research paper also gives general information about the transformation of the UK economy from an industrial and agrarian-based economy to a huge service sector economy. This study finds that the UK had inconsistent monetary and fiscal policy coordination throughout the 2010s and 2020s. This did not happen once and in both situations, the overall economy was left in a worse position than before. One of them being the austerity policies adopted post-2008, which had affected and reduced the long-term productivity in the UK. This left the economy poorly positioned for future shocks and crises. Also, the UK economy was in a period of uncertainty for a long time, even long after the 2008 crisis, the reason being the Brexit talks and debates and also this was followed by COVID-19 and the turmoil within the UK politics. This research highlights the need for coordinated monetary and fiscal policy frameworks, sustainable economic goals and the importance of investor confidence. It also helps to understand the UK’s post-crisis economic challenges and the consequences of the actions taken.

Anahtar Kelimeler

• Macroeconomic Policies
• Brexit
• Labor Productivity

Birleşik Krallık’ta Ekonomik Gelişmeler: Uzun Vadeli Perspektif (2008–2024)

Öz

Bu araştırmada, 2008 Küresel Mali Krizi'nden başlayarak Brexit, COVID-19 ve Birleşik Krallık ekonomisini etkileyen siyasi istikrarsızlıklar gibi konuları da içeren çeşitli dönemler boyunca Birleşik Krallık'ın makroekonomik durumunu analiz ettim. Tarihsel verileri ve makroekonomik göstergeleri kullanarak bunları grafiklere dönüştürdüm ve araştırmamı daha da detaylandırmak için politika raporlarından ve röportajlardan alıntılar yaptım. Ayrıca, analizimi yalnızca makroekonomik verilerle sınırlamamaya çalıştım; aynı zamanda siyasi çalkantıların yatırımcı güvenini nasıl zedeleyebileceğini göstermek için siyasi olayları ve dönüm noktalarını da kullandım. Araştırma makalesi ayrıca, Birleşik Krallık ekonomisinin sanayi ve tarıma dayalı bir ekonomiden büyük bir hizmet sektörü ekonomisine dönüşümü hakkında genel bilgiler de sunmaktadır. Bu çalışma, Birleşik Krallık'ın 2010'lar ve 2020'ler boyunca tutarsız bir para ve maliye politikası koordinasyonuna sahip olduğunu ortaya koymaktadır. Bu durum bir kez yaşanmamış ve her iki durumda da genel ekonomi eskisinden daha kötü bir durumda kalmıştır. Bunlardan biri, Birleşik Krallık'taki uzun vadeli verimliliği etkilemiş ve azaltmış olan 2008 sonrası kemer sıkma politikalarıydı. Bu durum, ekonomiyi gelecekteki şoklar ve krizlere karşı zayıf bir konumda bıraktı. Ayrıca, Birleşik Krallık ekonomisi, 2008 krizinden çok sonra bile uzun bir süre belirsizlik içindeydi. Bunun nedeni, Brexit görüşmeleri ve tartışmaları ile bunu takip eden COVID-19 ve Birleşik Krallık siyasetindeki çalkantılardı. Bu araştırma, koordineli para ve maliye politikası çerçevelerine, sürdürülebilir ekonomik hedeflere ve yatırımcı güveninin önemine vurgu yapmaktadır. Ayrıca, Birleşik Krallık'ın kriz sonrası ekonomik zorluklarını ve alınan önlemlerin sonuçlarını anlamaya da yardımcı olmaktadır.

Anahtar Kelimeler

• Makroekonomik Politikalar
• Brexit
• İşgücü Verimliliği

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