Representative government and the investment development path: Macao's colonial legacy

According to John H. Dunning's model of the investment development path, governments play a crucial role in the early phases of a country's participation in international investment flows. This article explores the relevance of Macao's colonial legacy for the territory's current position in the investment development path. The main focus is on the system of government that existed before 1999 and that was characterized by a lack of representation of the long-term economic interests of Macao's inhabitants.