"In the last four decades the world has been significantly impacted by globalization and rapid technological changes. This in turn had major effects on the global economy: Several developing and socialist economies that earlier followed closed door and import substitution policies started to...

The paper uses panel data for Indian industries in the post-reform period to study the direct and indirect productivity effects at firm level generated by foreign investment. It finds no evidence that foreign investment directly increases firm-level productivity, nor that R&D spending is more...

Productivity is generally defined as the amount of output realised for a given level of inputs. The neo-classical growth theory considers productivity as a function of technology and capital accumulation. In this paper, I argue that apart from technology and capital, productivity depends on...

Foreign direct investment (FDI) plays an important role in India's growth dynamics. There are several examples of the benefits of FDI in India. FDI in the retail sector can expand markets by reducing transaction and transformation costs of business through adoption of advanced supply chain and...

Emerging economies present the case of rapid changes in markets and institutions. In this context, joint ventures between multinational enterprises (MNEs) and local firms are subject to a gamut of calculations between the partners for arriving at mutually beneficial contractual arrangements. In...