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...

Investments represent the active factor of development and economy accommodation to market and competitiveness requirements, under the circumstances deployed within transition countries by conditioning the achievement of restructuring progress proposed under economic reform. If within one...

This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a dataset of unbalanced...

An important part of the Cuban government’s response to the crisis of the 1990s focused on opening the country to foreign resources in order to capture foreign exchange, which had reached minimal levels, in the shortest time possible. This economic opening was critical for reactivating the...

We look at privatization in a general equilibrium model of a small, tariff-distorted, open economy. There is a differentiated good produced by both private and public sector enterprises. A reduction in government production in order to cut losses from such production raises the returns to...

In the pre-reforms period the trade policy in Latin America had involved very high levels of protection and government intervention. The recent trade liberalization policies of the Latin American countries have sought to reverse the protectionist policies and open the scope for foreign direct...