THE IMPACT OF THE BRITISH MODEL ON ECONOMIC GROWTH

Abstract

The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom . The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatisation with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.