Cultural attributes, national saving and economic outcomes

Amir Shoham and Miki Malul

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2013, vol. 47, issue C, 180-184

Abstract: Economic and financial researchers rarely use culture as an exploratory variable for economic and financial events. This paper explores the role of cultural attributes in a nation's welfare. First, we use a theoretical model to show that the higher a nation's long term orientation, the more it chooses to save. We also show that nations with higher long term orientation enjoy a higher level of welfare. We complement the theoretical model with empirical analysis using a panel of data for 86 countries, from 1999 to 2009. The results from the empirical study support our proposition that nations with a higher long term orientation have higher saving rates.

Keywords: Culture; Welfare; Saving (search for similar items in EconPapers)
JEL-codes: A13 O11 O16 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:47:y:2013:i:c:p:180-184

DOI: 10.1016/j.socec.2012.07.008

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