The ERM, Sterling depreciation and Scottish industry

Struthers, John (1994) The ERM, Sterling depreciation and Scottish industry. Quarterly Economic Commentary, 19 (4). pp. 60-81. ISSN 2046-5378

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This is the second in a series of papers on the impact of the ERM and of Sterling's recent depreciation on Scottish companies. The first paper (Struthers, 1992) appeared just after Sterling's exit from the ERM in September 1992. That paper analysed perceived costs and benefits of ERM membership on the part of Scottish registered companies. This study is a follow-up to the previous one and is based on another questionnaire survey, this time of the Top 500 Scottish Companies, again as defined by the recently updated Scottish Business Insider database.