Why do financial markets see so little risk, while companies that invest in the real economy appear to be much more prudent? How will we fund future pensions when interest on the products that finance them are so low? Where will the trillions of dollars needed to improve and extend...

Attempts to measure the spillover effects of multinational enterprises on host countries have generally been corss-sectional and limited to labour productivity in manufacturing for a single country. Recent work in growth theory has measured the extent to which growth in total factor productivity...

Recent research in international economics highlights the role of interdependencies of investment decisions and sales of multinational firms. Previous work focused on and provided evidence for aggregate flows or stocks of foreign direct investment, showing that interdependence declines in...