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We construct an endogenous growth model that includes a cultural variable along the dimension of individualism-collectivism …. Collectivism leads to efficiency gains relative to individualism, but these gains are static, unlike the dynamic effect of …. The model predicts that more individualism leads to more innovation because of the social rewards associated with …
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We examine the role of society’s cultural moral code as a fundamental cause of institutional quality and economic prosperity. Our analysis focuses on the differences between pride-based (such as Protestantism) and guilt-based (such as Catholicism) cultures. A more pronounced pride sentiment or...
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School of Management, Cambridge, USA. …
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