May 2000 - Multinationals have become increasingly important to the world economy. Overseas production by U.S. affiliates is three times U.S. exports, for example. Who is investing where, for sales where? Much foreign direct investment is between high-income countries, but investment in some...

The observation of an increase in the ratio of skilled to unskilled wages in the high-income countries and in some cases in low/middle income countries has led to considerable discussion and indeed controversy as to its cause. Virtually none of the analysis has considered a possible role of...