Cardiff Business School Research

Welsh Institute For Research in Economics and Development

Associated with the Economics section

The Welsh Institute For Research in Economics and Development's aim is to stimulate and build capacity in research relevant to the Welsh economy and society as well as to the wider world.

The Institute undertakes research and policy initiatives of particular relevance to Wales but also of more general interest to the UK, the rest of Europe, and the wider world. We intend that our activities will benefit the political and business community of Wales, while providing a valuable stimulus to research and other joint activity for all the many established researchers and units working on Welsh issues. 

Recent research topics have included:

  • Corporate governance and the spread of companies 
  • Fiscal policy and devolution
  • Innovation and entrepreneurship 
  • Language and trade 
  • School size and school effectiveness 
  • Impatience as a reason for choosing violence


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Professor James Foreman-Peck

Head of the Economics Section

+44 (0) 29 208 76395
F41, Aberconway Building

Research Highlights

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Could student placements benefit the UK’s export market?

Bilateral national trade analysis carried out by Professor James Foreman-Peck for the Department for Business, Innovation and Skills (BIS) and UK Trade & Investment (UKTI) indicates that the gross costs of language ignorance are high for the UK despite English being a world language. 

WIRED researcher secures funding from Department for Business, Innovation and Skills

Professor James Foreman-Peck has been commissioned by the Department for Business, Innovation and Skills (BIS) to carry out research to quantify the costs to the UK of language deficiencies as a barrier to UK engagement in exporting.

WIRED research contributes to the Silk Commission Part II

Professor James Foreman-Peck has prepared a nine-page report for submission as evidence to the second part of the Commission on Devolution in Wales, chaired by Paul Silk, and focused on reviewing the powers of the National Assembly for Wales.  In his report, Professor Foreman-Peck states that "the people of Wales would be better served by a return of powers to Westminster."


The data and model for the Great Depression project some results from which were published as Optimum International Policies for the World Depression, from which the most recent paper is Trade Wars and the Slump, European Review of Economic History (2007) 11 73-98.

The Appendices of A Monthly Econometric Model of the Transmission of the Great Depression Between the Principal Industrial Economies contain the data sources, definitions and the equation list. 

Interwar period macrodata contains the data. The variable key decodes the acronymns used in the data.

Selected publications

Battilossi S, Escario R and Foreman-Peck J ‘Fiscal policy response to cycles under two regimes: Spain 1950-1998’, Cliometrica (2013) 7 (3) 267-294. Online first DOI: 10.1007/s11698-012-0089-4 (12 December 2012).

Foreman-Peck J and Hannah L ‘Some Consequences of the Early Twentieth Century Divorce of Ownership from Control in Britain‘, Business History (2013) 55 (4) 540-61. Online first: DOI 10.1080/00076791.2012.741970 (14 January 2013).

Foreman-Peck J and Nicholls T ‘SME Takeovers as a Contributor to Regional Productivity Gaps’, Small Business Economics (2013) 41 (2) 359–378. Online first DOI: 10.1007/s11187-012-9444-x (2 September 2012).

Foreman-Peck J ‘Effectiveness and Efficiency of SME Innovation Policy’, Small Business Economics (2013) 41 (1) 55-70. Online first DOI: 10.1007/s11187-012-9426-z (28 March 2012).

Foreman-Peck J and Hannah L ‘Extreme Divorce: the Managerial Revolution in UK Companies before 1914’, Economic History Review (2012) 65 (4) 1217-38. Online first: DOI: 10.1111/j.1468-0289.2011.00637.x (25 November 2011).

Foreman-Peck J and Zhou P 'The Strength and Persistence of Entrepreneurial Cultures', Journal of Evolutionary Economics. Online first 2011, DOI: 10.1007/s00191-011-0239-z

Foreman-Peck J  'The Western European Marriage Pattern and Economic Development', Explorations in Economic History (2011) 48, 2, 292-309.

Foreman-Peck J  and Pepelasis I 'Entrepreneurs and Businessmen in Greece during the Long Nineteenth Century' in G Tortella and G Quiroga eds. Entrepreneurship and Growth: An International Historical Perspective. Palgrave Macmillan (2012)

Foreman-Peck J  'Despite the Cuts...' Agenda 2011 Spring 43 30-31 ISSN 1464-7613

Leppala, Samuli 2012. 'An epistemological perspective on knowledge transfers: From tacitness to capability and reliability'. Industry and Innovation 19 (8) , pp. 631-647. 10.1080/13662716.2012.739759

Leppala, Samuli 'Opening up the Jacobs Spillovers. Black Box: Local diversity, creativity and the processes underlying new combinations' with Pierre Desrochers. Journal of Economic Geography, Vol. 11 (2011), No: 5, 843–863. 

Leppala, Samuli 'Creative Cities and Regions: The Case for Local Economic Diversity' with Pierre Desrochers. Creativity and Innovation Management, Vol. 20 (2011), No: 1, 59–69.

Leppala, Samuli  'Regional Economic Analysis: The Case for Methodological Individualism' with Pierre Desrochers. In The Spatial Market Process, Advances in Austrian Economics, Vol. 16, ed. by David E. Andersson. Emerald 2012, pp. 25–56. 

Leppala, Samuli 'Creative environments: the case for local economic diversity' with Pierre Desrochers. In Handbook of Creative Cities, eds. by Charlotta Mellander, David Andersson and Åke E. Andersson. Edward Elgar, 2011, pp. 422–434

Luintel K  'Basic, Applied and Experimental Knowledge and Productivity: Further Evidence' (with Moss Khan) Economics Letters, vol 111 (2011), 71

Moore, S. C., Brennan, I. R. & Murphy, S. (2011). 'Predicting and measuring and predicting harm in the night time economy'. Alcohol and Alcoholism, 46(3), 357-363

Moore, S. C. et al. (2012). 'An exploratory randomised controlled trial of a premises-level intervention to reduce alcohol-related harm including violence in the United Kingdom'. BMC Public Health, 12: 412

Roked, Z., Moore, S. C. & Shepherd, J. P. (2012). 'Alcohol misuse: screening and treatment in primary dental care'. Faculty Dental Journal, 3(2), 73-77

Wood, A., Brown, G. & Moore, S. C. (2012) An Evolutionary based social rank explanation of why low income predicts mental distress: a 17 year cohort study of 30,000 people. Journal of Affective Disorders, 136(3), 882-888

Lungu L "Euro Plus Pact Adoption: implications for Romanian Fiscal Policy", 2012, (with Daniel Daianu and Ella Kallai), ISBN online: 978-606-8202-20-4, published by European Institute of Romania under the series: Strategy and Policy Studies 2011, no.2.  

Lungu L "Tax Policy under the Curse of Low Revenues: The Case of Romania" (Parts 1 & 2), 2012, (with Daniel Daianu and Ella Kallai), Romanian Journal of Economic Forecasting, Vol 15, Issues 1 & 2, pg 156-186. And pg 143-162