We address the poverty trap rationale for aid to Africa. We calibrate models that embody typical explanations for stagnation: coordination failures, ineffective mix of occupational choices and imperfect capital markets, and insufficient human capital accumulation coupled with high fertility....

As an extensive of the export-led growth of national economy overseas, direct investment by Korean multinationals has been rapidly increased. This article explores the development of the overseas manufacturing direct investment by Korean firms and the relationship between parent firms and...