Culture Growth and Economic Policy 1st Edition Panagiotis 3642414400 9783642414404

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Product details:

• ISBN-10: 3642414400
• ISBN-13: 9783642414404
• Author: Panagiotis E. Petrakis

It is a wide-spread belief that the cultural background inhered in a society affects the requirements of economic development. This relationship requires theoretical and empirical justification. The present book provides this together with an analysis of the development of cultural background itself. Cultural background is embodied in political institutions, in transactions, knowledge, incentives, in social capital, even in the tangibles of the economy. Thus, economic development is shaped and the rate of growth is affected. Conversely, economic development affects cultural background. When this interaction takes place at a non-developmental cultural background level, which is associated with low growth rates, then a growth trap is formed. Within such a growth trap, economic policy (public and monetary) is relatively deactivated and the conditions influencing the change in cultural background and its timing are of primary importance.

Table of contents:

1. Introduction
1. The Foundations
Part Frontmatter
Chapter
3. The Construction of Cultural Background
4. Culture in Economic Thinking
5. Cultural Background and Economic System
6. The Effect of Cultural Background on Incentives, Growth and Distribution, and Vice Versa
7. Cultural Background and Rationality
2. The Cultural Dimensions and the Cultural Background Change
Part Frontmatter
Chapter
9. Collectivism as an Aid or Obstacle to Economic Growth
10. Power Distance, Uncertainty, Time and Growth
11. The Cultural Background Change
3. Cultural Background, Growth and Policy
Part Frontmatter
Chapter
13. Cultural Background, Transaction Costs and Economic Institutions
14. The Effects of Culture, Transactions and Institutions on Opportunity Entrepreneurship
15. The Effects of Cultural Background and Knowledge Creation on Self-Employment and Entry Density Rates
16. Cultural Background, Growth and Economic Policy

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