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Abstract
This paper examines whether democracy and other major characteristics of political institutions have any significant consequences for private investment. I isolate three political determinants that may affect property rights and private investment: political freedom, political instability, and policy uncertainty. The major findings in this paper can be characterized as follows: Political freedom promotes private investment, particularly through the channel of improving human capital formation. Political instability, as measured by the variability of political freedom, has a negative effect on private investment. Finally, policy uncertainty, as measured by the variability of government capacity, adversely affects private investment. These findings have been tested rigorously through using variables controlling for both domestic and international conditions.
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International Studies Quarterly, an official journal of the International Studies Association, seeks to acquaint a broad audience of readers with the best research being done in the variety of intellectual traditions included under the rubric of international studies. Therefore, the editors welcome all submissions addressing this community's theoretical, empirical, and normative concerns. First preference will continue to be given to articles that address and contribute to important disciplinary and interdisciplinary questions and controversies. JSTOR provides a digital archive of the print version of International Studies Quarterly.
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International Studies Quarterly © 2001 Oxford University Press
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Abstract
This empirical study of the relationship between national political stability and the direct investment by United States firms in marketing activities questions the results of much of the previous literature. Political instability was found not to discourage such investment.
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JMR publishes articles representing the entire spectrum of research in marketing, ranging from analytical models of marketing phenomena to descriptive and case studies.
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Sara Miller McCune founded SAGE Publishing in 1965 to support the dissemination of usable knowledge and educate a global community. SAGE is a leading international provider of innovative, high-quality content publishing more than 900 journals and over 800 new books each year, spanning a wide range of subject areas. A growing selection of library products includes archives, data, case studies and video. SAGE remains majority owned by our founder and after her lifetime will become owned by a charitable trust that secures the company’s continued independence. Principal offices are located in Los Angeles, London, New Delhi, Singapore, Washington DC and Melbourne. www.sagepublishing.com
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Journal of Marketing Research
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