Cultural and Institutional Antecedents of Country Risk

Anna Shostya () and Moshe Banai
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Anna Shostya: Pace University, NYC
Moshe Banai: Baruch College, CUNY

Atlantic Economic Journal, 2017, vol. 45, issue 3, No 6, 364 pages

Abstract: Abstract This study explores the effects of cultural and institutional factors on country risk. We use the 2004 Global Leadership and Organizational Behavior Effectiveness Research study’s estimations of nine cultural dimensions, as well as measures of democracy and gender empowerment, in a sample consisting of 55 countries. The results indicate that gender empowerment, humane orientation, and institutional collectivism have a larger impact on country risk than democracy, uncertainty avoidance, and gender egalitarianism. The interdependency of some cultural dimensions suggests that cultural and institutional differences could be used to predict mean country risk ratings.

Keywords: Country risk; Culture; Democracy; Gender empowerment; Institutional collectivism; A13; O57; Z1 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s11293-017-9548-4

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