Roger Perman is Senior Lecturer in Economics, Strathclyde University. His major research interests and publications are in the field of applied econometrics and environmental economics. Michael Common is Professor in the Graduate School of Environmental Studies at Strathclyde University. His major research interests are the development of ecological economics and policies for sustainability. Yue Ma is Associate Professor in Economics, Lingnan University, Hong Kong, and Adjunct Professor of Lingnan College, Zhongshan University, China. His major research interests are international banking and finance, as well as environmental economics for developing countries. David Maddison is Professor of Economics at the University of Birmingham The late James McGilvray was Professor of Economics at Strathclyde University. He made important contributions in the fields of input-output analysis, social accounting and economic statistics, and to the study of the economics of transition in Central and Eastern Europe.