Welsh Institute For Research in Economics and Development

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.


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


James Foreman-Peck

Professor James Foreman-Peck

Head of the Economics Section

029 2087 6395

Academic staff

Samuli Leppälä

Dr Samuli Leppälä

Lecturer in Economics

+44 (0)29 2087 6530
Kul Luintel

Professor Kul Luintel

Professor of Economics

029 2087 5534
Peter Morgan

Dr Peter Morgan

Reader in Quantitative Analysis

+44 (0)29 2087 5727