We use the rise of emerging-market multinationals as a vehicle to explore how a firm’s country of origin influences its internationalization. We argue that the home-country’s institutional and economic underdevelopment can influence the internationalization of firms in two ways. First,...

Nigeria has long been trying to learn how best to manage boom-bust cycles in global commodity prices, adopting an oil-price benchmark for annual budgets while saving revenues above the benchmark in an excess crude account in the half decade before the 2008/2009 global crisis. The crisis and its...

This paper investigates the relationship between education and the location of multinational affiliates. It finds that U.S. multinationals seek production locations with high levels of education rather than with uneducated labor. Furthermore, the education effect can be separated from the...