We argue that mass media is a mechanism of institutional evolution and identify three important effects media has on institutions. The 'gradual effect' involves media contributing to marginal changes in existing institutions. The 'punctuation effect' involves media catalyzing rapid institutional...

This paper explores the role of media in economic development. In particular, we seek to outline the conditions under which the media contributes to the successful adoption of policies aimed at economic progress. Our core thesis is that successful economic development requires the coordination...