We present evidence about the role of rent sharing in fostering the interdependence of labour markets around the world. Our results draw on a firm-level panel of more than 2,000 multinationals and more than 5,000 of their affiliates, covering 47 home and host countries. We find considerable...

The sub-prime crisis has rejuvenated a public dialogue about the regulation of financial systems. This paper examines the impact of culture on the regulation of bank entry. Based on data from 53 countries, the paper's empirical estimations are inconsistent with the prediction of ‘public choice...