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We assess the role of capital goods imports and inflows of foreign direct investment (FDI) as transmission channels … depends on the BRICs’ local capacity to absorb superior technologies and on domestic investment. …
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The claim of globalization critics that the income gap to industrial countries is bound to widen for essentially all developing countries as a consequence of economic globalization is in conflict with empirical evidence. Economic performance differs tremendously across developing countries. We...
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