#3475 Created 06/08/2013 Updated 10/27/2016
Christopher J. Coyne and Peter T. Leeson.
The first to discuss the importance of media in overcoming pulic choice problems was Sen (1984, 1999) who raised the issue in conneciton with the prevention of famines. Djankov et al (2002, forthcoming) builds on Sen's work, analyzing the owernship structure of media and finds a correlation between state ownership and poverty. The World Developmnent Report 2002, Building Institutions for Markets, dedicated a chapter to the importance of media and development. The role of media has been studied in terms of its impact on governmental transparency, accountability (Stiglitz 2002), solving the principal (citizens)-agent (government) problem (Besley and Burgess 2001: Besley et al 2002), public policy (Spitzer 1993) and corporate governance (Dyck adn Zingales 2002). Additionally, many case studies address the state of the media industry in specific countries (for example, see Gross 1996, O'Neil 1997, McAnnay 1980, Paletz et al. 1995, Lent 1980). None of these writings, however, combines public choice insights with a theoretical framework explaining the specific variables allowing media to play a role in economic progress.