The populations of many countries in the world are becoming more culturally diverse. This spurs a growing need for an informed debate on the socio-economic implications of cultural diversity. This book offers a solid statistical and econometric perspective on this topical subject by bringing together studies from different countries in Europe and North America. The research in this volume sheds light on several consequences of cultural diversity, including positive impacts on innovation, growth and entrepreneurship, with contributions highlighting how there can be negative social effects on communities. Throughout the volume, it is evident that the effects of cultural diversity on socio-economic outcomes depend largely on the characteristics of local economies, populations and communities.