Symbolic Values, Occupational Choice, and Economic Development

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Symbolic Values, Occupational Choice, and Economic Development

Author Info

Giacomo Corneo () (Free University of Berlin, CEPR, CESifo and IZA)
Olivier Jeanne () (International Monetary Fund and CEPR)

Additional information is available for the following registered author(s):

Olivier Jeanne

Abstract

Channeling human resources into the right occupations has historically been a key to economic prosperity. Occupational choices are not only driven by the material rewards associated with the various occupations, but also by the esteem that they confer. We propose a model of endogenous growth in which occupations carry a symbolic value that makes them more or less attractive; the evolution of symbolic values is endogenous and determined by purposive transmission of value systems within families. The model sheds light on the interaction between cultural and economic development and identifies circumstances under which value systems matter for long-run growth. It shows the possibility of culturally determined poverty traps and offers a framework for thinking about the transition from traditional to modern values.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2763.

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Length: 31 pages
Date of creation: Apr 2007
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Handle: RePEc:iza:izadps:dp2763

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Find related papers by JEL classification:
D1 - Microeconomics - - Household Behavior
O1 - Economic Development, Technological Change, and Growth - - Economic Development

This paper has been announced in the following NEP Reports:

NEP-ALL-2007-05-19 (All new papers)
NEP-CBE-2007-05-19 (Cognitive & Behavioural Economics)
NEP-CUL-2007-05-19 (Cultural Economics)
NEP-DEV-2007-05-19 (Development)

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Marco Cipriani & Paola Giuliano & Olivier Jeanne, 2007. "Like Mother Like Son? Experimental Evidence on the Transmission of Values from Parents to Children," IZA Discussion Papers 2768, Institute for the Study of Labor (IZA). [Downloadable!]
Other versions:
- Cipriani, Marco & Giuliano, Paola & Jeanne, Olivier, 2007. "Like Mother Like Son? Experimental Evidence on the Transmission of Values from Parents to Children," CEPR Discussion Papers 6305, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

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