Skeptics of the globalization thesis argue that most Third World countries are “virtually written off the map†(Hirst and Thompson 1999) in terms of foreign direct investment and trade. The authors reexamine the empirical evidence on international investment, drawing on the concept of...

Following Desai (1984), Goodwin's simple "predator-prey" growth cycle model of the economy (1967) is tested, using post-war data for ten OECD countries--Australia, Canada, Finland, France, Germany, Greece, Italy, Norway, the UK and the US. At a quantitative level, Goodwin's model is found not to...