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Does education engender cultural values that matter for economic growth?

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  • Bangwayo-Skeete, Prosper F.
  • Rahim, Afaf H.
  • Zikhali, Precious
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    Abstract

    Empirical research has shown that cultural values matter for economic growth and has specifically identified the achievement motivation as an aspect of culture that engenders economic growth. If specific cultural values engender economic growth, how then can societies promote them? This paper addresses this question using the 2005 wave of the World Values Survey data for 43 countries. We test the contention that both formal and informal education significantly impacts the relative importance an individual places on economic achievement vis-à-vis traditional social norms. Results suggest that individuals with higher education levels and better access to media attach higher importance to values related to autonomy and economic achievement as compared to conformity to traditional social norms. These results underscore the importance of institutions, specifically public policy on both formal and informal educational channels, in facilitating adoption of values that are considered important for economic development.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 40 (2011)
    Issue (Month): 2 (April)
    Pages: 163-171

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    Handle: RePEc:eee:soceco:v:40:y:2011:i:2:p:163-171

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    Web page: http://www.elsevier.com/locate/inca/620175

    Related research

    Keywords: Cultural values Education Ordered probit Semi-nonparametric estimation;

    References

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    1. John F. Helliwell & Robert D. Putnam, 1999. "Education and Social Capital," NBER Working Papers 7121, National Bureau of Economic Research, Inc.
    2. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2002. "People's Opium? Religion and Economic Attitudes," NBER Working Papers 9237, National Bureau of Economic Research, Inc.
    3. Newey, Whitney K, 1985. "Maximum Likelihood Specification Testing and Conditional Moment Tests," Econometrica, Econometric Society, vol. 53(5), pages 1047-70, September.
    4. George A. Akerlof & Rachel E. Kranton, 2002. "Identity and Schooling: Some Lessons for the Economics of Education," Journal of Economic Literature, American Economic Association, vol. 40(4), pages 1167-1201, December.
    5. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
    6. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change
      [Understanding the Process of Economic Change]
      ," Introductory Chapters, Princeton University Press.
    7. James J. Heckman & Jora Stixrud & Sergio Urzua, 2006. "The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social Behavior," Journal of Labor Economics, University of Chicago Press, vol. 24(3), pages 411-482, July.
    8. Gallant, A Ronald & Nychka, Douglas W, 1987. "Semi-nonparametric Maximum Likelihood Estimation," Econometrica, Econometric Society, vol. 55(2), pages 363-90, March.
    9. Yona Rubinstein & James J. Heckman, 2001. "The Importance of Noncognitive Skills: Lessons from the GED Testing Program," American Economic Review, American Economic Association, vol. 91(2), pages 145-149, May.
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