) as one way in which to transfer wealth to poor societies, leading to democracy. The most recent literature assesses this … point better. We create models of democracy and use estimates of FDI stock for 107-120 countries over the 1970-2000 time … period as a principal control variable. We find that FDI Granger-causes democracy to a greater degree than the other way …

western Germany during the 1980s and 1990s. It is argued that regional opportunity structures as well as local patterns of …