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Cultural, Political, and Economic Antecedents of Country Risk in Sixty-Two Countries




This study presents and empirically tests a model of the relationships between cultural, political, and economic measures and business practices in sixty two countries. GLOBE study’s nine dimensions of culture’s scores are regressed along scores on democracy, religiousness, GDP, corruption, and country risk. The results indicate that in-group collectivism and humane orientation are good predictors of democracy, religion, and corruption; performance orientation and uncertainty avoidance are good predictors of societal institutions; and corruption and societal institutions are good predictors of country risk. Implications for scholars and practitioners are offered.

Suggested Citation

  • Banai, Moshe, 2012. "Cultural, Political, and Economic Antecedents of Country Risk in Sixty-Two Countries," Journal of Financial Transformation, Capco Institute, vol. 34, pages 89-98.
  • Handle: RePEc:ris:jofitr:1509

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    1. repec:kap:atlecj:v:45:y:2017:i:3:d:10.1007_s11293-017-9548-4 is not listed on IDEAS

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    Culture; Democracy; Religiousness; GDP; Corruption; Country Risk.;

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics


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