An exemplary liquid crystal display (LCD) (1) includes a first substrate (211), a second substrate (221), and a liquid crystal layer (230) sandwiched between the two substrates. The LCD further includes a common electrode layer (212) formed at an inner side of; a dielectric compensating layer (213) formed at an inner side of at an inner side of the common electrode layer; and a plurality of pixel electrodes (224) formed at an inner side of the second substrate. The dielectric compensating layer is configured to compensate changes in the dielectric constant of the liquid crystal layer which occur according to gradation voltages provided to the liquid crystal layer.