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...

In an emerging literature, informal institutions or culture has been defined based on four important traits - TRUST, RESPECT, CONTROL and OBEDIENCE. This paper investigates the question - do informal institutions defined by these traits enhance women's political, social and economic rights? The...

Previous literature generally finds greater fiscal decentralization associated with faster economic growth. A separate, but related, literature finds greater fiscal decentralization associated with improved government performance, and stronger constraints on the Leviathan behavior of...

Domestic human capital is definitely a determinant of foreign direct investment (FDI) inflows for the developing world. Yet, the contribution of human capital will depend to a great extent on the institutional framework of a nation. Good political (civil) rights favor human capital to reap the...

The paper revisits the relationship between capital flight and financial development. Previous research has focused on a linear relationship between the two variables. Using a broad panel of 107 middle income and low income economies, the results reveal that a non-linear association exists...

This paper explores the role of media in mitigating the adverse effects of ethnic diversity on economic policies using a pooled OLS approach. A freer media helps build a strong public consensus, generates public awareness, creates a transparent government and, thus, fosters development....

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...

Previous literature has talked extensively about the relationship between a free (independent) press and corruption. A free press ameliorates corruption levels in a country by acting as a watchdog and making the government more transparent and accountable to the masses. Another strand of...

Previous literature has clearly demonstrated the need for sound government policies or ‘institutions’ to promote and support entrepreneurship in a country. This paper explores the role of one such institution – political stability – in boosting entrepreneurial endeavors. A politically...

In this paper, we consider the role of political stability in the source country as a potential reason for skilled emigration. We control for all prospective source country characteristics and yet skilled emigration is seen to be driven by a relatively better situation of political stability in...