This paper explores the link between foreign direct investment and trade in a panel of four countries that will accede to the European Union in 2004: Poland, Hungary, the Czech Republic and Slovenia. We augment standard demand-side export and import equations with a measure of FDI penetration....

Output growth in the Euro Area has been disappointing since the formation of EMU. This may be the consequence of the new monetary and exchange rate arrangements, but it is necessary to remove the effects of other factors such as the growth of labour input, skills, knowledge and risk premia. This...

We argue that the choice of exchange rate regime in the process of accession to the European Union and EMU can affect the growth rate of the economy in the medium term. We discuss the effects of exchange rate choice, and of the timing of transition to EMU on the core accession countries.

NIESR contributed a chapter on economic growth, productivity and innovation in the UK, including contributions by Simon Kirby.