This paper examines growth successes and failures across countries and notes the latter’s perplexing predominance among ex ante low-income economies. An explanation for this persistence of underdevelopment is proposed through an empirical investigation that brings forth evidence on the...

"Transnational corporations are one of the most important actors in the global economy, occupying a more powerful position than ever before. In their persistent battle to maximize profits, they have increasingly turned to the developing world, a world that holds many attractions for them. But...