Culture and Economic Development
until further notice
Oxford : Elsevier
InWright, J.D. (ed.), International Encyclopedia of the Social & Behavioral Sciences, 2nd edition, pp. 528-534
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Wright, J.D. (ed.), International Encyclopedia of the Social & Behavioral Sciences, 2nd edition
SubjectDistributional Conflicts in a Globalizing World: Consequences for State-Market-Civil Society Arrangements
Both historical studies and econometric analyses find that high levels of economic growth are associated with values such as achievement motivation, future orientation, and eagerness to learn. Opinions differ with respect to the direction of the causal relation, if any, and the role of formal institutions. Some regard formal institutions as of more importance than values. Future research should focus on the time pattern of changes in values, institutions, and economic performance and take a close look at the influence of power.
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