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Abstract

In egalitarian countries people believe that luck rather than hard work determines success in life and expect their government to provide both economic growth and social equity. This leads to a stronger dynamic interplay between government interventions, inequality and growth within such countries. The presented results thus confirm the importance of cultural factors and economic beliefs in shaping the inequality-growth link. More fundamentally, the paper demonstrates that cultural background does not only influence the long-run economic outcomes, but can also affect the joint dynamics of real economic variables within countries over time.

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Bibliographic Info

Paper provided by Université de Lausanne, Faculté des HEC, DEEP in its series Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) with number 10.15.

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Length: 30 pages + appendix
Date of creation: Nov 2010
Date of revision:
Handle: RePEc:lau:crdeep:10.15

Contact details of provider:
Postal: Université de Lausanne, Faculté des HEC, DEEP, Internef, CH-1015 Lausanne
Phone: ++41 21 692.33.64
Fax: ++41 21 692.33.05
Email:
Web page: http://www.hec.unil.ch/deep/publications/cahiers/series
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Related research

Keywords: culture; inequality; growth;

Find related papers by JEL classification:

• O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
• O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
• P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
• Z1 - Other Special Topics - - Cultural Economics

This paper has been announced in the following NEP Reports:

• NEP-ALL-2011-02-19 (All new papers)
• NEP-CIS-2011-02-19 (Confederation of Independent States)
• NEP-CUL-2011-02-19 (Cultural Economics)
• NEP-DEV-2011-02-19 (Development)
• NEP-FDG-2011-02-19 (Financial Development & Growth)
• NEP-HAP-2011-02-19 (Economics of Happiness)
• NEP-PBE-2011-02-19 (Public Economics)
• NEP-SOC-2011-02-19 (Social Norms & Social Capital)

References

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1. Laura de Dominicis & Henri L.F. de Groot & Raymond J.G.M. Florax, 2006. "Growth and Inequality: A Meta-Analysis," Tinbergen Institute Discussion Papers 06-064/3, Tinbergen Institute.
2. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
3. Giovanni S.F. Bruno, 2004. "Approximating the Bias of the LSDV Estimator for Dynamic Unbalanced Panel Data Models," KITeS Working Papers 159, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Jul 2004.
   
   • Bruno, Giovanni S.F., 2005. "Approximating the bias of the LSDV estimator for dynamic unbalanced panel data models," Economics Letters, Elsevier, vol. 87(3), pages 361-366, June.
4. Hongyi Li & Heng-fu Zou, 1998. "Income Inequality Is Not Harmful for Growth: Theory and Evidence," CEMA Working Papers 74, China Economics and Management Academy, Central University of Finance and Economics.
   
   • Li, Hongyi & Zou, Heng-fu, 1998. "Income Inequality Is Not Harmful for Growth: Theory and Evidence," Review of Development Economics, Wiley Blackwell, vol. 2(3), pages 318-34, October.
5. Nazrul Islam, 1998. "Growth Empirics: A Panel Data Approach- A Reply," The Quarterly Journal of Economics, MIT Press, vol. 113(1), pages 325-329, February.

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