This paper studies how foreign direct investment (FDI) contributes to cultural convergence across countries. Specifically, we examine whether multinational firms transfer corporate culture of employing women to foreign affi liates and eventually to local firms in the host country. To guide our empirical analysis, we build a parsimonious multi-sector task-based model that features heterogeneity ...

Foreign aid is one of the most important policy tools that rich countries use for helping poor countries to improve population well-being and facilitate economic and institutional development. The empirical evidence on its benefits is mixed and has generated much controversy. This paper presents descriptive statistics which show that foreign aid to very poor countries accounts for very little o...

In this paper, we challenge the view that foreign investors lead firms to adopt a shortterm orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the 2001-2010 period, we find instead that greater foreign institutional ownership fosters long-term investment in tangible, intangible, and human capital. Foreign institutional presence...

Using both bankand country-level data on banking sectors from 70 countries over the period 1992–2006, this paper empirically investigates the joint homeand host-country effects of banking market structure, macroeconomic condition, governance, and changes in bank supervision on foreign bank margins. We find that foreign banks are more profitable than domestic banks when they operate in a host co...

tourism industry has been the fastest and the most income-generating industry in the first decade of the third millennium. it has been for many countries including some of oic member countries a source of foreign exchange and contributed into their development. in this paper, we try to test empirically whether tourism expansion has had any significant effect on economic growth of oic member cou...

1745 Foreign direct investment may promote economic development by helping to improve productivity growth and exports in the multinationals' host countries. But the exact nature of the relationship between foreign multinational corporations and their host economies seems to vary between industries and countries. Summary findings Foreign direct investment may promote economic development by help...

According to traditional trade theories, foreign trade affects economic growth via several channels such as knowledge and technology spillover, improvement of resources allocation, increasing productivity and competitiveness. Within the framework of new trade theories, the effect of foreign trade on economic growth is ambiguous, and this effect depends on the combination of the different effect...

Global public opinion has emerged as an important factor affecting international relations. But have U.S. public diplomacy efforts during the post-9/11 period successfully improved foreign publics’ images of the U.S. and its foreign policy? We examine this question by estimating the effects of U.S. high-level visits to foreign countries on public opinion in those countries. Our compositional da...

Tuberculosis (TB) incidence rates vary substantially from regions to regions and from countries to countries. In countries such as Canada where TB incidence rate is low, increasing immigration trends may have significant impact on the TB transmission patterns in these countries. In this study we formulate a deterministic epidemiological model of TB transmission in two demographically distinct p...