In the last two decades, outward foreign direct investment from developing and transition economies has been growing rapidly, and new multinational enterprises from these economies have started to compete on the world stage. However, these firms are facing formidable challenges due to their...

Many models show that redistribution is bad for growth. This paper argues that in a non-cooperative world optimizing, redistributing (’left-wing’) governments mimic non-redistributing (’right-wing’) policies for fear of capital loss if capital markets become highly integrated and the...

This paper analyzes the interplay of growth, (re-)distribution and policies when the latter are set exogenously or when the latter depend on economically important fundamentals. A redistribution policy generally causes lower growth, but less so when there is technological progress. The model...