Values and Economic Performance: Theory and some Evidence from Kenya
AbstractPolicy, saving rates, human capital, etc. are possible explanations for poor economic performance, but while these factors are changeable, underdevelopment persists. Looking for an unchangeable factor, we construct a theory for the effect of values, such as moral values, risk-taking, and responsibility to others, on economic performance, and demonstrate it using a model in which responsibility for parents prevents development. We construct data of economic performance and values of seven tribes in Kenya by inferring values from children's stories, and verify the model. Thus, we open a door for the quantitative analysis of the effect of values over the economy.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by School of Economic Sciences, Washington State University in its series Working Papers with number 2008-18.
Length: 38 pages
Date of creation: Aug 2008
Date of revision:
economic development; values; social norms; Kenya;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
- Z10 - Other Special Topics - - Cultural Economics - - - General
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Danielle Engelhardt).
If references are entirely missing, you can add them using this form.