National Values and Economic Growth
AbstractUsing data on economic values and attitudes for various nations from the World Value Study, I show that the strength of values associated with market success does not appear to have a significant impact on the rate of economic growth in a sample of developing and developed market economies. I also show that such values do not seem related to the economic system and have an ambiguous relation to the overall level of economic development. These negative results suggest that, contrary to common belief, knowledge about such values does not seem very useful in helping us understand economic growth or differences in levels of economic development or economic systems in various countries. Copyright 2005 American Journal of Economics and Sociology, Inc..
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal American Journal of Economics and Sociology.
Volume (Year): 64 (2005)
Issue (Month): 2 (04)
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- Petrakis, Panagiotis & Kostis, Pantelis, 2013. "Economic growth and cultural change," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 47(C), pages 147-157.
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- van Hoorn, André & Maseland, Robbert, 2010. "Cultural differences between East and West Germany after 1991: Communist values versus economic performance?," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 791-804, December.
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