The purpose of this paper is to investigate the role of exchange rate uncertainty in determining foreign direct R&D investment into the UK. Specifically, we examine the impact of the UKs possible entry into EMU, where we exploit the fact that on entry the covariance of the Euro and sterling will...

Workshop on Fiscal indicators in the EU budgetary surveillance organised by the European Commission (DG-ECFIN), Brussels, 22 September 2006