Variables and their sources:

1. GDP per capita World Bank
2. Market capitalization/GDP - World Bank
3. Trust World Values Survey
4. Individualism Geert Hofstedes website
5. Uncertainty Avoidance - Geert Hofstedes website
6. Masculinity - Geert Hofstedes website
7. Risk tolerance Meir Statmans Culture in Risk, Regret, Maximization, Social Trust, and Life Satisfaction
8. Propensity for regret Meir Statmans Culture in Risk, Regret, Maximization, Social Trust, and Life Satisfaction
9. Legal Origin Raphael LaPortas website
10. Anti-self-dealing Index - Raphael LaPortas website
11. Variable that you choose (that relates to culture or behavior. Explain why you picked this variable)

Test whether there is correlation between domestic and foreign market participation rates and the variables 1-11 (perhaps generate a correlation matrix). Summarize your findings. Do you find consistent with your expectations in part 4. If not, why do you think that is? (Part 6 might help in answering this question)