“…Economic growth has the potential to increase the standard of living of individuals, to enhance business opportunities for foreign and local firms, and to contribute to long-term peace and stability in a country. Although the causal relationship between development and peace is likely to be multidirectional, economic factors are considered to be root causes of many of the violent conflicts in the world (Humphfreys, 2003;Rogers and Ramsbotham, 1999;Stewart, 2002). For this reason, improving economic conditions and economic freedoms are considered critical to long-term peace and stability (Fort and Schipani, 2004;Humphfreys, 2003;Rogers and Ramsbotham, 1999;Sen, 1999;Stewart, 2002).…”