The most significant structural change undergone by the British and Swiss economies during the past 25 years (1975-2000) is indisputably the development of their financial systems. From this point of view, the two countries show a number of similarities: the presence of one or more international...

From 1975 to 1995, the Swiss franc appreciated in a near constant manner compared with the currencies of all of the country’s commercial partners. This paper will seek to demonstrate that the various regions in Switzerland evolve diVerently when faced with a continuously appreciating currency....