Culture and the regulation of entry

Lewis S. Davis and Claudia R. Williamson
Authors registered in the RePEc Author Service: Claudia Williamson Kramer

Journal of Comparative Economics, 2016, vol. 44, issue 4, 1055-1083

Abstract: Does culture affect the manner in which a society regulates the entry of new firms? Our results suggest it does. We find more individualistic countries regulate entry more lightly. We investigate how culture matters presenting evidence of significant interactions between individualism and formal legal and political institutions. Individualism has a greater impact on entry regulation in societies with democratic political institutions or a common law tradition. This outcome is consistent with the idea that culture influences social preference for regulation, and political and legal institutions determine the degree to which those preferences are expressed as policy outcomes.

Keywords: Culture; Regulation of entry; Individualism; Legal origins; Democracy (search for similar items in EconPapers)
JEL-codes: D02 K2 L51 Z10 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (34)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:44:y:2016:i:4:p:1055-1083

DOI: 10.1016/j.jce.2016.09.007

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