Journal Article

New England's links to the world economy

Abstract: \"Openness\" to international trade and investment encourages technology transfer and productivity growth. It may also provide a degree of stability in the face of national and regional business cycles. To assess New Englands relative openness, this article surveys New Englands links with the world economy: its trade in goods and services, its banking ties, its inbound and (to the extent possible) its outbound foreign direct investments. ; The author finds evidence that New Englands 1987-89 export growth has been slow, and that inbound foreign investment recently has played a below-average role in the regional economy, especially in the manufacturing sector. She suggests that the decline in the regions manufacturing may be adversely affecting its international trade and investment ties. New England remains one of the most open regions in the country, however, and opportunities abound for further expansion of its export activities.

Keywords: Investments, Foreign - United States; New England;

Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Economic Review

Publication Date: 1990

Issue: Nov

Pages: 33-50