In 1960, there were 101 middle-income countries. By 2008, only thirteen of these had become high-income countries. Why do so many middle-income countries fail to develop after a promising start, becoming mired in the so-called middle-income trap? This interdisciplinary volume addresses the...

This paper concerns the increasing use of international commitment devices by developing countries. These devices include bilateral investment treaties, international arbitration, and multilateral trade commitments. The conventional wisdom is that such devices help to remedy local institutional...

This paper examines the impact of the macro-institutional environment on exploitative-explorative innovation. Building on organizational learning, institutional economics, and innovation studies, we identify country-level institutions that might foster or hinder firms’ incentives and ability...