Investment is crucial to the development of a nation`s economy and welfare. In contrast to the situation in the United States, investment activity in Europe has been quite modest over the past few years. This volume gathers together a number of papers by prominent researchers in the field of investment. It provides an overview of recent developments in this area and presents new empirical findings on the determinants and implications of the investment process in European countries. Among the topics examined are the role played by taxation, uncertainty and the financial systems, as well as the relevance of corporate governance to the investment process. Two chapters are dedicated to infrastructure investment and foreign direct investment.

Investment is crucial to the development of a nations economy and welfare. In contrast to the situation in the United States, investment activity in Europe has been quite modest over the past few years. This volume gathers together a number of papers by prominent researchers in the field of investment. It provides an overview of recent developments in this area and presents new empirical findings on the determinants and implications of the investment process in European countries. Among the topics examined are the role played by taxation, uncertainty and the financial systems, as well as the relevance of corporate governance to the investment process. Two chapters are dedicated to infrastructure investment and foreign direct investment.

This book provides detailed independent analyses of the successes and limitations of one of the most successful economic relationships in recent history: the Deutsche Mark and the Deutsche Bundesbank. With European economic and monetary union approaching, the lessons to be learnt from the German experience are now more important than ever. The Deutsche Mark has been one of the most stable currencies in the world for decades. The combination of a sound monetary structure and an anti-inflationary monetary policy have been the bedrock for unprecedented German economic success. This success, however, has not been unlimited or without risk. Fifty Years of the Deutsche Mark will give future European montary policy-makers the invaluable benefit of the German experience. The book combines chronological articles with others which follow the developments of a specific issue over the entire 50-year period. Issues covered include the central bank constitution, the central bank's relationship with fiscal policy-makers and with other banks, the role of the Bundesbank in European monetary integration, and the international significance of the Deutsche Mark. Individual accounts of the key monetary policy events in 1948 and 1990 as well as general articles on the `message' of German monetary policy and on academic deabte over German monetary policy round the book off. Sixteen eminent independent scholars were asked by the Bundesbank to contribute to this volume, and given full access to the Bank's records. The resulting articles provide comprehensive analysis of the successes and limitations of Europe's most powerful central bank. On June 20th, 1998, the Deutsche Mark will be 50 years old: this book will ensure that its legacy lives on.

How did Germany's gold reserves arise and which role has gold played as a currency across the centuries? What significance did gold reserves have then and what is its role today? In this book the gold reserves of the Bundesbank are vividly illustrated and presented to readers in such an informative way that it seems as if you were holding them in your hands. The transfer of significant gold reserves from the depots in New York and Paris to Frankfurt has been the subject of considerable public interest in recent years. These German gold reserves are administered by the Deutsche Bundesbank, and this book provides detailed information for the first time about the development, use and storage of the gold in the bank's own vaults. Interesting insight into the mining and processing of gold as a raw material, as well as authoritative knowledge about its qualities, are impressively complemented visually by the lavish illustration of selected gold ingots from the reserves of the Bundesbank.