In this paper we consider the case for assigning tax revenues to Scotland, by which we mean that taxes levied on Scottish tax bases should be returned to the Scottish budget. The budget, however, would continue to be supplemented by transfers from the Westminster budget. This arrangement differs...

We discuss the effectiveness of pegged exchange rate regimes from an historical perspective, drawing conclusions for their effectiveness today. Starting with the classical gold standard period, we point out that a succession of pegged regimes have ended in failure; except for the first, which was...

This paper assesses the nature of the economic relationships which evolved between members of the Organization of Petroleum Exporting Countries and the non-oil less developed countries in the several years following the oil shocks of 1973 and 1974. Since these relationships can be appraised only...