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Cultural and Institutional Antecedents of Country Risk

Author

Listed:
  • Anna Shostya

    (Pace University, NYC)

  • Moshe Banai

    (Baruch College, CUNY)

Abstract

This study explores the effects of cultural and institutional factors on country risk. We use the 2004 Global Leadership and Organizational Behavior Effectiveness Research study’s estimations of nine cultural dimensions, as well as measures of democracy and gender empowerment, in a sample consisting of 55 countries. The results indicate that gender empowerment, humane orientation, and institutional collectivism have a larger impact on country risk than democracy, uncertainty avoidance, and gender egalitarianism. The interdependency of some cultural dimensions suggests that cultural and institutional differences could be used to predict mean country risk ratings.

Suggested Citation

  • Anna Shostya & Moshe Banai, 2017. "Cultural and Institutional Antecedents of Country Risk," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 45(3), pages 351-364, September.
    • Handle: RePEc:kap:atlecj:v:45:y:2017:i:3:d:10.1007_s11293-017-9548-4
    DOI: 10.1007/s11293-017-9548-4
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    2. Hasan Dinçer & Serhat Yüksel & Seçil Şenel, 2018. "Analyzing the Global Risks for the Financial Crisis after the Great Depression Using Comparative Hybrid Hesitant Fuzzy Decision-Making Models: Policy Recommendations for Sustainable Economic Growth," Sustainability, MDPI, vol. 10(9), pages 1-15, September.
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