This paper studies the effect of sovereign risk on capital flows from rich to poor nations in the context of a two-country model, where Foreign Direct Investment (FDI) creates positive externalities in domestic production. We show that if externalities are large, a developing country never expropriates foreign assets, and behaves as under perfect enforcement of foreigners’ property rights, jump...

T he United Nations’ Millennium Development Goals, established in 2000, include the following: “Make available the benefits of new technologies—especially information and communications technologies.” A majority of technology’s benefits have been concentrated in industrialized nations and therefore limited to a fraction of the world’s population. The authors believe that technology has a large ...

Abstract There is a common understanding that megaprojects are important drivers of societal change. Their impact an phenomenon because the influence on both society and economy. Despite best practices all around globe, numerous challenges can move megaproject from programmed success to failure scenario. It create uncertainty over result, as well justification enormous amount resources spent. m...