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This study examines the critical interplay between institutional and cultural backgrounds and their collective impact on economic development, suggesting that their synchronized evolution-timing, pace, and direction-boosts economic development, while misalignment hinders it. It seeks to...
Persistent link: https://www.econbiz.de/10014635955
What explains the range of situations in which individuals cooperate? This paper studies a model where individuals respond to incentives but are also influenced by norms of good conduct inherited from earlier generations. Parents rationally choose what values to transmit to their offspring, and...
Persistent link: https://www.econbiz.de/10010264316
eliminated by trade. We provide an evolutionary model of endogenous preferences and institutions under autarchy, trade and factor …
Persistent link: https://www.econbiz.de/10010271869
eliminated by trade. We provide an evolutionary model of endogenous preferences and institutions under autarchy, trade and factor …
Persistent link: https://www.econbiz.de/10010287852
Persistent link: https://www.econbiz.de/10010517394
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Persistent link: https://www.econbiz.de/10012643570
This paper intends to take a step towards improving our understanding of how culture affects economic development … (proxied by individual values) interacts with the stickiest formal institutions in development, which leads to a very special …-togetherness" of values and institutions. Besides establishing that both values and sticky formal institutions are strong determinants …
Persistent link: https://www.econbiz.de/10012259724
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