The strikingly different labor market performance of major industrial countries suggests that neither globalization nor skill-biased technological change necessarily result in rising unemployment or declining wages of low-skilled workers. Rather, globalization and technological change cause...

Since recent financial crises in Asia and Latin America, developing countries have been strongly advised to rely primarily on foreign direct investment (FDI) in order to promote economic development on a sustainable basis. Even harsh critics of rash capital account liberalization argue in favor...