Globalization: a cautionary tale -- The globalization process -- The impact of national institutions on globalization -- Political institutions and globalization -- Economic institutions and globalization -- How cultural institutions impact globalization -- Using global acumen to account for...

The supposed benefits of IFDI to host countries are nuanced and not always positive. IFDI can crowd out local innovation, relegating local firms to less innovative, less profitable market niches. Whether IFDI provides long-term growth outcomes for host countries is therefore an open question.