Why Do Democracies Attract More or Less Foreign Direct Investment? A Metaregression Analysis

A large body of research examines the relationship between democracy and foreign direct investment (FDI). Scholars offer numerous arguments about why democratic institutions encourage or discourage FDI. Yet, almost all statistical work examines whether democracies receive more or less FDI than nondemocracies. Direct evidence on the underlying theoretical mechanisms that might account for such variation remains scant. We perform a metaregression...