This collection of papers arises from two major international conferences on inward investment and regional development, and the role of accumulated capital in regional business development. The papers cover a wide spectrum of development and finance issues with the common theme that capital flows can have a substantial impact on regional development.Foreword; David Rowe-Beddoe Introduction; Stephen Hill and Brian Morgan PART 1: REGIONAL DEVELOPMENT Regional Issues in Inward Investment and Endogenous Growth; Brian Morgan Inward Investment, Local Linkages and Regional Development; Stephen Hill and Annette Roberts Sectoral Growth and Regional Development: the Welsh Experience; Jago Atkinson, Chris Ioannidis and Brian Morgan PART II: INWARD INVESTMENT The Entry Mode Decisions of Multinational Enterprises and Regional Economic Development; David A. Williams and David J. Smith The Indirect Regional Impact of Inward Investment; Nigel Driffield Uncle Sam's Ireland: the Nature and Impact of Foreign Multinationals in the Irish Economy; Bruce Lyons and Patrick McCloughan Inward Investment and City Development in the South West and Wales; Peter Gripaios, Rose Gripaios and Max Munday Overseas Inward Investment and Regional Development: the Case of the West Midlands; Clive Collis, David Noon and Tony Edwards PART III: BUSINESS FINANCE Venture Capital, Entrepreneurship and Regional Development: the Role of Informal Venture Capital; Colin M. Mason and Richard T. Harrison Financial Structure and the Economic Performance of Peripheral Economies: the Case of Europe; Sheila Dow Bank Finance and the Regions: a European Perspective; R. Ross Mackay and Philip Molyneux The Growth of the Scottish Financial Sector; J. R. Davies and P.R. Draper Regional Financial Markets and Credit Allocation: the Case of Small and Medium Sized Firms in Northern Ireland; Donal G. McKillop and Robert W. HutchinsonSTEPHEN HILL is Director of the Welsh EconomlĂ-