The state and national economies are now feeling the brunt of the global economic crisis. So far, the pattern of events in the Commonwealth has mirrored that of the nation. This is not surprising, since the source of the problem — the global slowdown and ﬁnancial uncertainty — is an external shock that affects all the nation’s regions through international trade and ﬁnancial markets.
Clayton-Matthews, Alan, "Economic Currents: The State of the State Economy" (1999). Public Policy and Public Affairs Faculty Publication Series. 19.
University of Massachusetts
Published in MassBenchmarks, Vol. 2, No. 1, pp. 4-8: http://www.massbenchmarks.org/publications/issues/vol2i1/3.pdf.