While most of the sub-Saharan African countries have been receiving a significant amount of foreign direct investment (FDI) and foreign aid for the last couple of decades, there is no consensus among the researchers about the contribution of FDI and foreign aid to the economic growth of African...

This paper evaluates the influence of host-country financial conditions on the global operations of multinational firms. Using detailed U.S. data, we establish that financial development in a country is associated with relatively more entry by multinational affiliates, as well as with higher...