Employees of"globalized"firms face a riskier, but potentially more rewarding, menu of labor market outcomes. The authors document this neglected tradeoff of globalization for a sample of Indian manufacturing firms. On the one hand, the employees of firms subject to foreign competition face a...

Reform is often flawed by delayed implementation and, after initial acceptance, sudden reversals in public reaction. In recent years, many attribute these delays and reversals to reform dynamics because reform, particularly when comprehensive, rarely takes place all at once. In designing reform,...