Foreign direct investment (FDI) is often seen as a means to boost domestic investment and, hence, capital accumulation. Yet, the empirical support for such a positive investment effect of FDI is inconclusive. A possible reason is that FDI is often directed towards the financial sector, where...

Current debates on the social returns of Intellectual Property Right (IPR) systems deal with the presumed negative effects of two practices: IPR bundling and the strong concentration of IPRs in certain firms and industries. These debates are hampered by the lack of empirical evidence on IPR...