This paper examines the link between cluster development and inward foreign direct investment. The conventional policy approach has been to assume that inward foreign direct investment (FDI) can stimulate significant clustering activity, thus generating significant spillovers. This paper,...

This paper sets out a general theoretical structure for analyzing price adjustments to cost changes within asymmetric oligopolistic markets. The theory implies that, contrary to the usual assumption, exchange rate changes may leave prices unaltered. This is explored by an empirical examination...