ABSTRACT
One of the central challenges facing the international community today is to reconcile the forces of economic globalization with the achievement of sustainable peace and development. The liberalization of global trade and investment has led to an unprecedented surge in foreign direct investment (FDI) worldwide, including in emerging markets and the developing world. In the aggregate, increased investment has been positively correlated with reduced conflict risk and increased national economic growth, creating jobs and raising living standards. 1 However, and contrary to the confident expectations of ardent globalizers, increased FDI has not delivered these benefits evenly or everywhere. Indeed, in many parts of the developing world, globalization has not only failed to deliver, it has actually served to perpetuate the vicious cycle of conflict and underdevelopment.
