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Which foreign direct investments are most affected by political instability? Analysis of quarterly greenfield investment flows into countries in the Middle East and North Africa from 2003 to 2012 shows that adverse political shocks are associated with significantly reduced investment inflows in the non-resource tradable sectors. By contrast, investments in natural resource sectors and non-tradable activities appear insensitive to such shocks. Consistent with these patterns, the significant reduction in investment inflows in Arab Spring affected economies was starkest in the non-resource manufacturing sector. Political instability is thus associated with increased reliance on non-tradables and aggravated resource dependence. Conversely, how intensified political instability affects aggregate foreign direct investment is critically contingent on the initial sector composition of these flows.

Debt Markets --- Dutch Disease --- E-Business --- Emerging Markets --- Energy --- Energy Production and Transportation --- Finance and Financial Sector Development --- Foreign Direct Investment --- Greenfield FDI --- Investment & Investment Climate --- Macroeconomics and Economic Growth --- Natural Resources --- Non-Tradables --- Political Instability --- Private Sector Development --- Tradables

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Today's news media displays an intense fascination with the global economy--and for good reason. The degree of worldwide economic integration is unprecedented, and rising globalization has lifted living standards and reduced poverty. Foreign markets and new technologies continue to present opportunities for entrepreneurs and corporations. Still, economic shocks can spread across the world in minutes, impacting billions of lives. Citizens are understandably anxious in this age of macroeconomic turbulence and overextended governments. Modern economics offers a powerful framework for understanding globalization, international trade, and economic growth. Many managers possess years of hands-on experience dealing with business cycles and foreign competitive pressures, yet these leaders may not have a solid grounding in economic concepts that shed light on the forces of globalization. This book explains economics in everyday language, using little or no math, giving businesspersons better tools to interpret current events as well as long-term economic and political developments.

International economic relations. --- Globalization. --- economics --- human capital --- financial crisis --- macroeconomics --- comparative advantage --- absolute advantage --- emerging economy --- international trade --- business strategy --- economic growth --- economic history --- international economics --- political economy --- economic development --- industrialization --- labor market --- convergence --- New World --- mercantilism --- Industrial Revolution --- productivity --- technology --- capital control --- intellectual property --- research and development --- productivity slowdown --- Adam Smith --- factor proportions model --- gravity model --- infant industry --- import substitution --- Asian Tiger --- trade policy --- tariff --- public choice --- rent seeking --- trade agreement --- free trade --- liberalization --- information and communications technology --- vertical integration --- supply chain --- poverty trap --- big push --- coordination failure --- industrial policy --- diversification --- value added --- managerial capital --- skill biased technological change --- population growth --- wage inequality --- middle income trap --- tradable sector --- offshoring --- outsourcing --- foreign direct investment --- skill upgrading --- immigration --- wage structure --- regulation --- competitiveness --- corruption --- democracy --- autocracy --- socialism --- communism --- controlled capitalism --- gold standard --- natural resource curse --- business cycle --- collective bargaining --- social insurance --- safety net --- labor union --- Washington Consensus --- multinational enterprise --- exchange rate --- sweatshop --- spillover --- human rights --- labor standard --- property rights --- Dutch disease --- extractive industry --- negative externality --- pollution haven --- greenhouse gas --- global warming --- climate change