Building on the important study by Beck, Demirguc-Kunt and Maksimovic (2005, Journal of Finance), we examine how government intervention in firms' decision-making is related to their investment and sales growth. Using the unique World Bank dataset (WBES) covering 6,500 firms in 70 countries, we...

Multinational firms (MNEs) accounted for 42 percent of US manufacturing employment, 87 percent of US imports, and 84 of US exports in 2007. Despite their disproportionate share of global trade, MNEs' input sourcing and final-good production decisions are often studied separately. Using newly...

The notion of "trust" as social capital and an intangible asset has been discussed in the literature for some time but the financial crisis of 2007-8 has highlighted the significance of "trust" with respect to corporate governance, business ethics, confidence in leadership and policy-makers, and...

Government-controlled investors, including state-owned enterprises and sovereign wealth funds, have greatly expanded their international activities in recent years. This paper describes the existing policy landscape of international investments by government-controlled investors under both...