Purpose – Trade and investment flows into less-advanced economies could bring about important technological spillovers that could boost firm-level productivity and bolster their long-term economic growth. However, learning by doing and various forms of innovation activities are typically...

The food price shocks that erupted in 2008 revealed the vulnerability of many developing countries, notably those in Asia, from volatility in the international foodgrain markets. For instance, by March of 2008, the price of traded rice had increased by well over 70 percent compared to...