sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life … frictions, learning about demand, and recent endogenous growth models with incumbent innovation. We emphasize the importance of … empirical successes and shortcomings of current theory. First, models of organizational capital and innovation are broadly …

-collectivism. The model predicts that more individualism leads to more innovation because of the social rewards associated with … innovation in an individualist culture. This cultural effect may offset the negative effects of bad institutions on growth … individualism on growth through innovation. Using genetic data as instruments for culture we provide strong evidence of a causal …