According to the Investment Development Path (IDP) hypothesis, there is a U-shaped relationship between a country's economic development and its net outward investment position. An emerging country should evolve from a position of net recipient of foreign direct investment (FDI) to net exporter...

The history of the global oil industry is essential to understand the rise of multinational enterprises. Petrobras, in particular, has started to exploit in international markets the world-class technology it developed to exploit deepwater oil fields. PDVSA, on the other hand, has focused its...