STEPHEN FROWEN is Honorary Research Fellow in the Department of Economics at University College London and Senior Research Associate at the Von Hügel Institute, St Edmund's College, Cambridge, and the Institute for German Studies, University of Birmingham. He was previously Bundesbank Professor of Monetary Economics in the Free University of Berlin, and Professor of Economics in the University of Frankfurt. For many years he was the holder of senior teaching posts at the University of Surrey and the University of Greenwich, and held visiting professorships in several European countries. Among other appointments, he has been a Consultant at UNIDO, Vienna; a Research Officer, National Institute of Economic and Social Research; Economic Adviser, Industrial and Commercial Finance Corporation (now 3i); and Editor of The Bankers' Magazine (now The Chartered Banker). JENS HÖLSCHER is DAAD Senior Fellow in Economics at the Institute for German Studies, University of Birmingham. He was previously Lecturer at the University of Wales, Swansea and Assistant Lecturer in Berlin. He has published several economics books in German, amongst them Entwicklungsmodell Westdeutschland and Conditions of Economic Development in Central and Eastern Europe, Vols 1-5.