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Quantifying Culture: Problems and Promises

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  • Richard Adkisson

Abstract

Recently economists, even many in the mainstream, have come to acknowledge the influence of culture on the economic process. Some, like original institutionalists, have a thorough understanding of and appreciation for the richness of culture and are, therefore, suspicious of any attempt to quantify cultural information. Others, particularly those trained in the use of statistical methods, are anxious to incorporate culture into statistical/quantitative models and may rush to quantify and include cultural information in their models without a full appreciation of the meaning(s) of culture. This paper reiterates the role of culture in the economy, explores several attempts to quantify culture, and reviews a number of papers that incorporate cultural information into statistical analyses. The broad purpose is to evaluate the prospects for incorporating culture into statistical models in ways that respect the richness of culture as it is perceived by institutionalists.

Suggested Citation

  • Richard Adkisson, 2014. "Quantifying Culture: Problems and Promises," Journal of Economic Issues, Taylor & Francis Journals, vol. 48(1), pages 89-108.
  • Handle: RePEc:mes:jeciss:v:48:y:2014:i:1:p:89-108
    DOI: 10.2753/JEI0021-3624480104
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    Cited by:

    1. Michaël Lainé, 2016. "Can Culture Account for Investment Expectations?," Post-Print hal-01335596, HAL.
    2. Peter Lloyd & Cassey Lee, 2018. "A Review Of The Recent Literature On The Institutional Economics Analysis Of The Long†Run Performance Of Nations," Journal of Economic Surveys, Wiley Blackwell, vol. 32(1), pages 1-22, February.
    3. Bagrat Yerznkyan & Lily Gassner & Anna Kara, 2017. "Culture, Institutions, and Economic Performance," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(2), pages 71-80.
    4. repec:mje:mjejnl:v:12:y:2017:i:2:p:71-80 is not listed on IDEAS
    5. Peter Lloyd & Cassey Lee, 2016. "A Review of the Recent Literature on the Institutional Economics Analysis of the Long-Run Performance of Nations," Department of Economics - Working Papers Series 2019, The University of Melbourne.
    6. Bernard Poirine & Vincent Dropsy, 2018. "Institutions, Culture and the Tropical Development Gap," Post-Print hal-02133270, HAL.
    7. Michael Lainé, 2016. "Can Culture Account for Investment Expectations?," Post-Print hal-04265074, HAL.
    8. Annie Tubadji, 2020. "Value-Free Analysis of Values: A Culture-Based Development Approach," Sustainability, MDPI, vol. 12(22), pages 1-17, November.

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