The territorial state which dominated the industrial era is increasingly becoming obsolete, and is gradually being replaced by new forms of global governance (Ohmae, 1995; Strange, 1996, 1998; Rosecrance, 1999). Moreover, the pressure from global markets have blurred the ideological differences among...

This paper explores the existence of partisan cycles in foreign direct investment performance. Our theoretical model predicts that the incumbent government's partisanship should affect foreign investors' decision to flow into different sectors of the host country: pro-labor governments would...

We analyze how one of the central drivers of globalization, foreign direct investment (FDI), relates to the prevalence of corruption. According to received wisdom, the link between globalization and corruption depends on the presence of proper political institutions and practices. We develop an...

Governments often pursue procyclical fiscal policies, even though they reduce voter welfare. Is this because voters actually prefer procyclical policies? The analysis in this paper exploits the first individual-level evidence from an original survey of 12,000 respondents in 8 countries across...