The lower the risk of expropriation and the greater the rule of law (that is, the greater the security of property and contract rights), the greater the research and development spending in developing countries and the greater the likelihood that foreign direct investment will increase; two...

In 1997 the U.S. Federal Communications Commission ordered sharp reductions in international settlement rates (bilaterally negotiated rates for telecom traffic between pairs of countries) for telecom traffic between the United States and the rest of the world. Even the very poorest countries,...