This paper theoretically and empirically examines ownership structure in foreign direct investment (FDI) projects. We show that in choosing an ownership structure, foreign investors, local entrepreneurs, and government consider the specific, costly-to-market assets that the participants and the...

This paper develops a theoretical model of equity composition in foreign direct investment (FDI) projects and applies it empirically to examine the role of firm, industry, and country characteristics in ownership structure. The results show that in choosing the ownership structure, foreign...

This paper re-examines the determinants of trade policy. It modifies the Grossman-Helpman model of trade policy to take account of factors besides lobby contributions that may lead politicians to value rents differently across industries. The idea is motivated by the puzzling results of the...

This book addresses a diverse set of challenges facing Latin American economies. These range from the role of neo-liberal policies, deficit targeting, import substitution, role of institutions, trade and regional development and human capital and poverty.

The contributions to this collection examine the shortcomings of the economic development policies in the MENA region before and after the Arab Spring, with particular attention to the role of gender and the ways in which policies translate into economic outcomes

This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the 'Dutch disease' and the 'resource curse', which primarily focuses on...