Over the past two decades, the rapid integration of many developing countries into global markets has contributed to a convergence of incomes across countries, pulling large economies like China, India, and Indonesia into the middle-income ranks. On the other hand, these same factors have...

Foreign direct investment (FDI) is becoming increasingly critical to the economies of developing countries, in part due to a major expansion in the scope of global value chains (GVCs), whereby lead firms outsource parts of their production and services activities across complex international...