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Culture and Economic Performance

In: Handbook of the Economics of Art and Culture

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  • Casson, Mark

Abstract

Culture, defined as shared values and beliefs, can influence the performance of an economy in many ways. The culture of a group, whether national, regional or ethnic, may be regarded as a particular type of intangible public good. The chapter summarizes and critiques a positive theory of inter-cultural competition. According to this theory, culture is created by leaders, who specialize in the production of culture, and is shared by their followers. Leaders compete for followers in order to increase the rents that they can extract from their groups. Whilst some of these rents may be pecuniary, most are non-pecuniary, such as the enjoyment of pursuing a public project which glorifies the leader and their group. There are four main dimensions of culture which influence performance, and there are trade-offs between them which are governed by the environment of the social group. The positive theory is useful in interpreting historical evidence on the rise and decline of societies, institutions, and organizations of various kinds.

Suggested Citation

  • Casson, Mark, 2006. "Culture and Economic Performance," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 12, pages 359-397, Elsevier.
    • Handle: RePEc:eee:artchp:1-12
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    Cited by:

    1. Khanif Sharifzуanovich Mullakhmetov & Ruslan Duferovich Sadriev & Elvir Munirovich Akhmetshin, 2019. "Influence of corporate culture on the system of management in modern conditions," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1098-1113, December.
    2. Kleimeier, S. & Sander, H. & Heuchemer, S., 2014. "The resurgence of cultural borders in international finance during the financial crisis: Evidence from Eurozone cross-border depositing," Research Memorandum 013, Maastricht University, Graduate School of Business and Economics (GSBE).
    3. Aytuğ SÖZÜER, 2018. "Ulusal Kültür ve Girişimcilik İlişkisinde Kurumların Rolü," Istanbul Management Journal, Istanbul University Business School, vol. 29(85), pages 59-72, December.
    4. Driouchi, Ahmed & Achehboune, Amale & Gamar, Alae, 2015. "Revealing the Components of the Intangible Wealth for Morocco," MPRA Paper 60904, University Library of Munich, Germany.
    5. Ralston, David A. & Egri, Carolyn P. & Riddle, Liesl & Butt, Arif & Dalgic, Tevfik & Brock, David M., 2012. "Managerial values in the greater Middle East: Similarities and differences across seven countries," International Business Review, Elsevier, vol. 21(3), pages 480-492.
    6. Casson, Mark & Dark, Ken & Gulamhussen, Mohamed Azzim, 2009. "Extending internalisation theory: From the multinational enterprise to the knowledge-based empire," International Business Review, Elsevier, vol. 18(3), pages 236-256, June.
    7. Heuchemer, S. & Kleimeier, S. & Sander, H., 2008. "The geography of European cross-border banking: the impact of cultural and political factors," Research Memorandum 008, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    8. Khanif Sharifzуanovich Mullakhmetov & Ruslan Duferovich Sadriev & Elvir Munirovich Akhmetshin, 2018. "Corporate Culture in Management Systems," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 519-528.

    More about this item

    JEL classification:

    • Z19 - Other Special Topics - - Cultural Economics - - - Other

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