"The US government has long sought investment opportunities for US companies in developing countries. But the results have been mixed: firms have preferred to invest in the industrial world and developing-world leaders have not always welcomed foreign investment. Violence and the presence of...

In recent years, academics and policy makers have emphasised the role of human capital formation in economic development. By creating human capital, countries become more attractive to private investment, both domestic and foreign. And through such investment, countries grow and prosper. Yet the...