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How Culture Impacts Economic Development: A Cross-country Comparison

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  • Rubén Berríos

Abstract

The significance of cultural factors in economic development is analyzed. Culture here refers to values, behaviors, and beliefs. Culture alone cannot explain development, but there are some factors that help us understand why some countries develop faster than others. The study makes use of the World Values Survey as a road map for analysis using cross-cultural comparisons. The analysis focuses on two key core values: trust and achievement. This is applied to two regions: East Asia (Japan and Korea) and Latin America (Mexico and Peru). The aim is to examine how aspects of culture help accelerate or impede development.

Suggested Citation

  • Rubén Berríos, 2024. "How Culture Impacts Economic Development: A Cross-country Comparison," Journal of Developing Societies, , vol. 40(2), pages 150-175, June.
    • Handle: RePEc:sae:jodeso:v:40:y:2024:i:2:p:150-175
    DOI: 10.1177/0169796X241237978
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    References listed on IDEAS

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    1. Manuel Couret Branco, 2007. "Family, religion and economic performance: A critique of cultural determinism," Review of Social Economy, Taylor & Francis Journals, vol. 65(4), pages 407-424.
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    3. Fernández, Raquel, 2010. "Does Culture Matter?," CEPR Discussion Papers 7965, C.E.P.R. Discussion Papers.
    4. Daron Acemoglu & James A. Robinson, 2025. "Culture, Institutions, and Social Equilibria: A Framework," Journal of Economic Literature, American Economic Association, vol. 63(2), pages 637-692, June.
    5. Chung, Young-Iob, 2007. "South Korea in the Fast Lane: Economic Development and Capital Formation," OUP Catalogue, Oxford University Press, number 9780195325454.
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