The Philippine economy has manifested signs of recovery due to various factors such as political and economic stabilization. Hence, inflows are expected to continue in the future. While these capital flows are positive developments, it carries with it adverse impacts on the real sector of the...

This paper examines spillover effects of the activities of multinational firms (MNCs). Such effects are most likely to be found in host countries, where the operations of foreign multinationals may influence local firms in the MNC’s own industry as well as firms in other industries. There is...

Based on a historical survey of the experiences of the USA, the EU member states and the East Asian economies, the paper argues that during their early stages of development, now-developed countries systematically discriminated between domestic and foreign investors in their industrial policy....

One of the core assumptions of recent American foreign policy is that China's post-1978 policy of "reform and openness" will lead to political liberalization. This book challenges that assumption and the general relationship between economic liberalization and democratization. Moreover, it...

The rentier-state literature pays little attention to the initial political conditions that shape the way an oil-rich country develops its resources. One of the key causal mechanisms linking oil wealth and regime type is the relationship between foreign investors and host governments. Especially...

The choice of targets for terrorist attacks is often considered to be random or illogical. In other cases targets are seen as being chosen for their symbolic importance to the audience the terrorists are seeking to reach or to indicate that no area of the country is safe. Terrorist groups,...

We develop a two-period model with foreign investment and international borrowing and lending. We find that temporary devaluation has no effect on contemporaneous foreign investment, but the effect on future foreign investment is positive via the working of the credit market. These findings are...

Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment – FDI, portfolio equity securities, debt securities...