Journal Article

How diversified is New England?

Abstract: Despite steady growth in the United States economy over the past eight years, several regions of the country have suffered severe economic slumps. Oil-producing and agricultural states in particular have experienced economic conditions that usually occur only during national recessions. Lack of diversity in the economies of these regions contributed to their economic problems. ; Recently, it has been New Englands turn; its economic performance has deteriorated significantly. This article examines the diversity of the New England economy. The author finds that New England has a diverse industrial base and that this should, in the absence of a major national downturn, help prevent a recession of the magnitude experienced earlier in farming and oil-producing states.

Keywords: Regional economics; New England;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Economic Review

Publication Date: 1990

Issue: Nov

Pages: 3-16