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The Effect of Cultural Values on Economic Development

Theory, Hypotheses, and Some Empirical Tests

Bibliographic Data

ID6231826
AuthorsJim Granato, Ronald Inglehart (0000-0002-5620-3363), David Leblang (0000-0003-1315-3092)
Year1996
Volume40
Issue3
Pages607
Publication date1996-08-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueAmerican Journal of Political Science (JOURNAL)
Journal identifiersISSN: 0092-5853 • E-ISSN: 1540-5907
PublisherJSTOR (PUBLISHER)
DOI10.2307/2111786
OpenAlexW2312279960
LanguageEN
Citations received114
References cited19

Theory: Cultural variables are incorporated into a baseline endogenous economic growth model. Hypotheses: Cultural attitudes toward achievement and thrift have a positive effect on economic growth. Cultural attitudes concerning postmaterialism have a negative effect on economic growth. Methods: Ordinary least squares regression is used to test economic and cultural models of growth on a cross section of 25 countries. The encompassing principle is used to resolve competing theoretical specifications and to generate a final parsimonious model. A variant of Leamer's Extreme Bounds Analysis (EBA) is used to evaluate the sensitivity of parameter estimates. The conclusions are further supported by nonparametric methods including robust regression and bootstrap resampling. The data for the analysis are from the World Values Survey (1990) and from Levine and Renelt (1992). Results: An empirical model that incorporates both cultural and economic variables is superior to an explanation emphasizing one set of these variables. The final model is robust to: (1) alterations in the conditioning set of variables; (2) elimination of influential cases; and (3) variations in estimation procedures

Econometrics · Economics · Nonparametric statistics · Ordinary least squares · Regression · Regression analysis · Resampling · Set (abstract data type · Statistics · Variables · Computer Science · Culture, Economy, and Development Studies · Economic Growth and Productivity · Fiscal Policy and Economic Growth · Mathematics

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Unique citing works114
Citations per year3,8
Citation span1996 - 2026 (31)
Citation velocitycurrent
Highly citedYes
Citation typesNeutral: 114

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