Conventional wisdom holds that defense industry consolidation resulted from decreased defense spending. However, we maintain that understanding dynamic changes in key defense institutions helps provide a more complete explanation for observed consolidation. Specifically, we examine the...

Acquisition activity persists despite evidence that acquisitions do not improve firm performance. Further, government policy toward the defense industry has advocated consolidation in the name of nominal cost savings. We explore the role acquisitions play toward technology transfer and begin to...

Scottish citizens enjoy 25% more spending per head on public services than English citizens, but almost nothing is known about the countries’ relative needs and hence about how far this gap is defensible. We explore their spending needs for local authority services, which cover over half the...

The paper examines the relationship between some key measures of macroeconomic performance and fiscal decentralization in OECD countries, and the impact on this relationship of increased policy co-ordination among countries since 1985. It is shown that prior to 1985 there was a significant...