Campos, Nauro; Kinoshita, Yuko - William Davidson Institute, University of Michigan - 2008
macroeconomic environment, higher levels of economic
development, and infrastructure. We find that these results are robust to … of economic
and political environment also affects the expected return to the investment. In this respect,
greater … factors such as market size, infrastructure, and macroeconomic environment.
Second, we look at institutional factors. Third …