This paper presents substantial new evidence on the competitive process that links together industrial economics and international economics. Our time-series data base concerns manufactured product prices and their domestic and international determinants. We identify cointegrating relationships,...

This paper describes the history of the UK balance of payments since 1950, and contains an informal discussion of future prospects. It documents the huge shifts that have occurred in the composition of trade, in particular the rise of the City of London and knowledge-intensive services...

This paper defines de-industrialisation as a secular decline in the share of manufacturing in national employment. De-industrialisation, in this sense, has been a widespread feature of economic growth in advanced economies in recent decades. The paper considers briefly what explains this...