We investigate empirically the existence of a heterogeneous relation between foreign direct investment (FDI) and economic growth across developing countries. We argue that, across countries, differences in institutional quality are correlated with heterogeneous absorptive capacities and hence a...

In this study, we provide a research framework that unbundles the impact of different institutional attributes (i.e., the degree of perceived specificity, stability, predictability, and enforceability of property rights and contracting institutions) on the firm's resources and capabilities...

This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative...