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Culture And Growth: Some Empirical Evidence

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  • Dustin Chambers
  • Susan Hamer

Abstract

type="main" xml:lang="en"> 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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  • Dustin Chambers & Susan Hamer, 2012. "Culture And Growth: Some Empirical Evidence," Bulletin of Economic Research, Wiley Blackwell, vol. 64(4), pages 549-564, October.
    • Handle: RePEc:bla:buecrs:v:64:y:2012:i:4:p:549-564
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    File URL: http://hdl.handle.net/10.1111/j.1467-8586.2010.00364.x
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    4. Qichun He & Meng Sun, 2016. "Central Planning Legacies: The Lingering Effects Of The Great Leap Forward In China," Bulletin of Economic Research, Wiley Blackwell, vol. 68(2), pages 182-203, April.

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