How do cultural values affect economic growth? An empirical evidence from world values survey (1994–2021)
Bibliographic Data
| ID | 6449080 |
|---|---|
| Authors | Israa A El Husseiny (0000-0003-3486-2146, Cairo University), Ahmed Al Samman (Cairo University), Sarah Mansour (0000-0001-8862-1642, Cairo University), Fatma M Ibrahim (0000-0002-9860-1175, Cairo University) |
| Year | 2024 |
| Volume | 10 |
| Issue | 6 |
| Pages | 414-441 |
| Publication date | 2024-08-04 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Seikei ronsō/Review of economics and political science (JOURNAL) |
| Journal identifiers | ISSN: 0387-3285 • E-ISSN: 2631-3561 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/reps-02-2023-0012 |
| OpenAlex | W4401317654 |
| Language | EN |
| Citations received | 1 |
| References cited | 51 |
Purpose This study utilizes cultural values from the World Values Survey (WVS) to investigate the cultural hypothesis regarding economic growth. Following Granato et al.'s (1996) theory, this paper describes a systematic method for developing analytical models that clarify the effect of cultural values on economic growth by using seemingly unrelated regression (SUR). Design/methodology/approach The results are sustained through regression analysis using ordinary least squares (OLS) and SUR. The sample size covers all WVS countries from the third wave in 1994 to the seventh wave in 2021, due to the limited sample size in the first and second surveys, which is insufficient for estimation. Findings Results highlight culture as a crucial factor for economic growth. Although the study found a positive effect of autonomy, life satisfaction, and post-materialism on economic growth, trust has been found to have a negative impact. Originality/value Although the literature has theoretically proven the impact of cultural values on economic growth, there is a significant disparity in the empirical studies, owing to a lack of applied studies. This study deepens the cultural analysis compared to earlier empirical investigations. To the best of the authors' knowledge, this is the first attempt to assess the combined effect of the selected four cultural values on economic growth during 1994 and 2021. Furthermore, SUR analysis allows for the estimation of the variables' effects throughout the five waves
Affect (linguistics · Cultural values · Demographic economics · Economics · Social science · Sociology · World Values Survey · Cultural Differences and Values · Culture, Economy, and Development Studies · Psychology · Social and Cultural Dynamics · Social Psychology
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| Unique citing works | 1 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2024 - 2024 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |