The paper investigates the reasons for the established disappointing performance of the Arab education system as compared to the rest of the world. We focus on the role of the quality of informal institutions as measured by the World Value Survey (WVS) and formal institutions as measured by the...

We explore the effect of foreign direct investment on economic growth in developing countries, distinguishing between mergers and acquisitions ("M&As") and "greenfield" investment. A simple model captures the key difference between the two types of FDI: unlike greenfield investment, M&As partly...