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In the paper, we argue that trust is the missing link relating education, institutions, and economic development. We … argue that increased trust both increases education and improves legal and bureaucratic institutions, which in turn spurs … education and the quality of institutions, and that education and institutions in turn affect GDP per capita. …
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We report evidence that trust is the missing root relating education, institutions, and economic development. We … observe that more trust both increases education and improves legal and bureaucratic institutions, which in turn spurs … both education and the quality of institutions, and that education and institutions in turn affect GDP per capita …
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Studies of the impact of local political risk on foreign direct investment inflows overlook that worldwide FDI comes in waves. Using a simple model we show that the impact of political risk on FDI inflows is likely to be weaker, the larger the worldwide amount of FDI, which may question standard...
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