Previous literature stresses the importance of free media for economic development. By its nature TV, radio, and newspapers cross borders allowing citizens to easily sample media from neighboring countries. This creates pressure for domestic reform and spreads media freedom between countries....

Financial development is definitely a determinant of the extent of foreign direct investment (FDI) inflow into an economy. Yet, the contribution of financial development (FD) can be dependent on the political situation of the recipient nation. Higher political stability aids financial...

In the economic development literature, cultural diversity has been shown to have a positive impact on economic outcomes. A culturally diverse society or interaction among different cultures encourages exchange and competition and generates efficient outcome. Our paper hypothesizes that a...