Over the past two decades, no two economies have averaged more rapid economic growth than China and Vietnam.But while China‘s income inequality has risen rapidly over that same time frame, Vietnam‘s has only grown moderately. Structural and socio-cultural determinants fail to account for...

Prevailing work argues that foreign investment reduces corruption, either by competing down monopoly rents or diffusing best practices of corporate governance. We argue that this theory is too broad-brush and that the empirical work testing it is too heavily drawn from aggregations of total...