Globalization, the multinational firm, and emerging economies / Attila Yaprak, H(c)·ulya T(c)·utek -- Emerging economies and the challenge of globalization / John D. Daniels -- Foreign direct investment in the emerging markets of central and eastern Europe: motives and marketing strategies /...

I incorporate imperfect capital markets in a standard neoclassical model of economic growth to analyze the long run effect of capital market globalization for develping countries. In autarky, domestic savings are invested and Solow-type growth emerges. In contrast, when a country that lags...