publication . Article . 2015

Culture in Development

Name: Culture in Development
Keywords: Economics and Econometrics, Accounting, Development, Finance

Jon C. Thompson; Shankha Chakraborty; Etienne B. Yehoue;

Open Access

Published: 01 Jan 2015 Journal: The World Bank Economic Review, volume 29, pages S238-S246 (issn: 0258-6770, eissn: 1564-698X,

Publisher: Oxford University Press (OUP)

Summary

Abstract

An anti-capitalist cultural bias, through directed within-family human capital transmission, adversely affects the supply of entrepreneurial talent and risk-taking. This limits economic progress if aggregate productivity is low. When productivity is high, economic incentives can overcome cultural inertia. Though the income level depends on culture, the growth rate in this case does not.

doi: 10.1093/wber/lhv018

Subjects

free text keywords: Economics and Econometrics, Accounting, Development, Finance, Income level, Aggregate productivity, Economic progress, Economics, Incentive, Human capital, Cultural bias, Labour economics

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