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FDI, Global Value Chains, and Local Sourcing in Developing Countries
The local sourcing of intermediate products is one the main channels for foreign direct investment (FDI) spillovers. This paper investigates whether and how participation and positioning in the global value chains (GVCs) of host countries is associated to local sourcing by foreign investors. Matching two firm-level data sets of 19 Sub-Saharan African countries and Vietnam to country-sector level measures of GVC involvement, we find that more intense GVC participation and upstream specialization are associated to a higher share of inputs sourced locally by foreign investors. These effects are larger in countries with stronger rule of law and better education.
Coping with Global Institutional Change
It uses multi-level analytical approach to provide insights on two industries that coped with WTO initiated global institutional change.
Taking Back Control?
The era of hyperglobalization once hailed as the 'end of history' was characterised by boundless capitalist expansion. The neoliberal revolution gave rise to a politics of scale aimed at the centralization and unification of states and state systems: the replacement of national with global governance or, in Europe, of the nation-state with a supranational superstate, the European Union. The 'New World Order' proclaimed by the United States in the wake of the Soviet collapse proved to be ungovernable by democratic means. Instead, it was ruled through a combination of technocracy and mercatocracy, failing spectacularly to provide for political stability, social legitimacy and international pea...
The Impact Evaluation of Cluster Development Programs
Do cluster development programs work? Do they fundamentally encourage the essential inter-firm linkages and coordination? Do they lead to innovation and productivity, enterprise development, larger employment, and export growth, and if so, after how long? Do other firms benefit from these programs? This book offers insight into quantitative methods that help answer these questions. Cluster development is a form of modern industrial policy that is spreading across the world to help exploit the externalities emerging from geographical agglomeration and inter-firm coordination. Therefore, rigorous impact evaluations are necessary because they help policymakers understand better ways to design f...
Investing in the Homeland
Once viewed as a “brain drain,” migrants are increasingly viewed as a resource for promoting economic development back in their home countries. In Investing in the Homeland, Benjamin Graham finds that diasporans—migrants and their descendants—play a critical role in linking foreign firms to social networks in developing countries, allowing firms to flourish even in challenging political environments most foreign investors shun. Graham’s analysis draws on new data from face-to-face interviews with the managers of over 450 foreign firms operating in two developing countries: Georgia and the Philippines. Diaspora-owned and diaspora-managed firms are better connected than other foreign...
Africa's Development Dynamics 2019 Achieving Productive Transformation
Africa’s Development DynamicsWhat are the major economic and social trends in Africa? What is Africa’s role in globalisation? This annual report presents an Africa open to the world and towards the future. uses the lessons learned in the five African regions – Central, East, North, Southern and West Africa – to develop recommendations and share good practices. The report identifies innovative policies and offers practical policy recommendations, adapted to the specificities of African economies. Drawing on the most recent available statistics, this analysis of development dynamics aims to help African leaders reach the targets of the African Union’s Agenda 2063 at all levels: conti...
Foreign Capital Flows and Economic Development in Africa
This collection examines the extent to which foreign capital from conventional (OECD countries) and non-conventional (BRICS) sources has impacted economic development in Africa over the last two decades. It provides in-depth analyses of the nature, motives, and implications of this capital, and identifies drivers of contemporary rapid growth within and across African countries. Authored by leading experts, the book offers original insights for academics, policymakers, and practitioners studying the changes taking place in Africa as the continent strides more confidently toward integration with the global economy. The major themes addressed in this book include:• The implications of growing Chinese engagement in Africa • BRICS countries' versus OECD countries' investment contributions to Africa• The politics of land, land grab, and the puzzle of inclusive development in Africa• Foreign research and development spillovers, trade linkages, and productivity in Africa• Foreign aid effects on social sector, growth, and structural change in Africa• Remittances, foreign debt, resource management, and economic development in Africa
Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword
We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.
Regional Integration, Trade and Industry in Africa
This book examines the past, present and prospects of regional economic integration in Africa. The empirical analysis ranges from unions formed during the years following independence, to the proposed African Continental Free Trade Area (AfCFTA), which aims to remove trade barriers between all 55 African states. In addition, the book explores to what extent Africa’s Regional Economic Communities (RECs) have advanced in accordance with a linear integration model of goods, labor and capital markets. The book subsequently evaluates the suitability of the European model of deep integration with costly institutions for the conditions specific to Africa, considering, for example, the role of inf...
How to Achieve Inclusive Growth
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Rising inequality and widespread poverty, social unrest and polarization, gender and ethnic disparities, declining social mobility, economic fragility, unbalanced growth due to technology and globalization, and existential danger from climate change are urgent global concerns of our day. These issues are intertwined. They therefore require a holistic framework to examine their interplay and bring the various strands together. Leading academic economists have partnered ...
