Social Culture and Economic Performance

Hanming Fang

American Economic Review, 2001, vol. 91, issue 4, 924-937

Abstract: The connection between obtaining higher paying jobs and undertaking some seemingly irrelevant activity is interpreted as "social culture." In the context of a society trying to adopt a new technology, I show that by allowing the firms to give preferential treatment to workers based on some "cultural activity," the society can partially overcome an informational free-riding problem. Therefore, social culture may affect the economic performance by altering the effective production technology of the economy.

JEL-codes: J31 O33 Z13 (search for similar items in EconPapers)
Date: 2001
Note: DOI: 10.1257/aer.91.4.924
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Citations: View citations in EconPapers (44)

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