Ethno cultural factor in the system of international economic relations

This paper is devoted to a review of a number of theoretical and practical aspects of the cultural determination of international economic relations in the light of various approaches to their analysis. The starting point for consideration is the understanding of culture as a determinant of economic phenomena. The culture in this respect is primarily a system of basic informal institutions, mental group settings, stereotypes, values. The mental culture effects the international trade, the behavior of consumers in the national markets of goods and services, the attitude to work, the decision of firms in the international context regarding the direction of investments, and the entry mode of the firm on the international market. The main attention is paid to the analysis of national cultures of business communication, the characteristics of the content of business cultures of different peoples, as well as the description of ethno metric approaches to the analysis of economic mentality of representatives of different countries.