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A Wealthier, Fairer ScotlandThe Political Economy of Constitutional Change$
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Michael Keating

Print publication date: 2017

Print ISBN-13: 9781474416429

Published to Edinburgh Scholarship Online: January 2018

DOI: 10.3366/edinburgh/9781474416429.001.0001

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The Political Economy of Devolution

The Political Economy of Devolution

(p.1) 1 The Political Economy of Devolution
A Wealthier, Fairer Scotland

Michael Keating

Edinburgh University Press

Small, devolved nations and regions lack major macro-economic powers. Yet in the context of spatial rescaling they have become important levels for managing economic growth and social cohesion. They may be exposed to a ‘race to the bottom’ by the need to attract investment capital. Yet, by adopting social investment strategies they can rec.oncling growth with social inclusion. The key factor is the institutional capacity to plan for the long term, to set priorities and to sustain cooperation among the social partners.

Keywords:   New regionalism, social investment, partnership, social inclusion

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