CULTURE AND GROWTH: SOME EMPIRICAL EVIDENCE

Dustin Chambers

15 citations0/0 files storedBulletin of Economic Research

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Culture, Economy, and Development Studies Economic Growth and Productivity Economic Growth and Development

Abstract

ABSTRACT Using Hofstede's cultural data set, this paper examines the impact of cultural characteristics on a nation's economic performance. Using a two‐step estimation procedure, we first estimate a panel growth regression and obtain estimates of each nation's fixed effects, which reflect idiosyncratic differences in growth performance. In the second step, we regress the fixed effects on invariant cultural and institutional variables. Our estimation results suggest that individuality and tolerance for uncertainty are the most important cultural factors in explaining nation‐specific growth performance. Furthermore, our findings suggest that political and property rights play a major role in determining idiosyncratic growth.

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References

1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations 1981Culture's Consequences: International Differences in Work-Related Values 1983Culture's Consequences: International Differences in Work-Related Values.1991Economic Growth in a Cross Section of Countries 1995Corruption and Growth 2001The Colonial Origins of Comparative Development: An Empirical Investigation 1989Economic Growth in a Cross Section of Countries 1999Why do Some Countries Produce So Much More Output Per Worker than Others?

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