As one of the numerous merits brought by global financial integration, foreign direct investment (FDI) plays an indispensable role in fostering economic growth in the developing world. Different from previous literatures which concentrate on discussing the FDI productivity spillover effect, the...

In this study, we examine the wealth effects of regulatory changes intended to improve corporate governance by protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms, we find that these new regulations significantly...

Undervaluation of the currency is generally believed to affect growth through two main transmission channels: the “capital accumulation channel” and the “total factor productivity (TFP) growth channel”. This paper carries out the first empirical investigation on the TFP growth channel....

Over the past decades great changes have taken place in the economic environment worldwide regarding the foreign direct investment (F.D.I.). However, some of the developing countries have managed to gain more F.D.I. compared to other developing countries via skills acquisition, competition,...

The failure to advance the multilateral trade negotiations of the World Trade Organization (WTO) was a disruption for the international trading system. Alternatively, many countries have commenced to establish bilateral and regional Free Trade Agreements (FTA). Among those agreements the...

This article aims to highlight the first work of economist Nathan Nunn on slavery and colonization. Indeed, for the latter, these two historical facts, quantifiable consequences, have defined the path of economic development of African countries. Secondly, this paper discusses the findings of...

As Western firms jostle to exploit the opportunities that the world’s largest and fastest-growing economy can provide, there is a recognised need for caution, timely advice and sage wisdom.Our review seeks to make its contribution against this backdrop. Using an interpretive framework that...

Much of the debate over income convergence hinges on whether technology diffusion is “global” or “local”. In this paper, I address this question in a developing country setting and focus on the role of major research clusters in promoting domestic technology diffusion. I identify four de...

The complexity of Basel II and III has reached China as well. In a revolutionary turn within seven years, the Chinese bank regulator has introduced capital adequacy as the tool of choice for supervision and ensured that banks in the process remain focused on implementing all the bits of the...

The paper shows how democratic elections in a bi-communal society with entrenched ethnic voting results in an elected oligarchy in which elites of one ethnic group control the allocation of scarce economic resources. Using a simple strategic game, the paper shows that the control of resources...