Culture in Development

Shankha Chakraborty, Jon C. Thompson and Etienne B. Yehoue

The World Bank Economic Review, 2015, vol. 29, issue suppl_1, S238-S246

Abstract: An anti-capitalist cultural bias, through directed within-family human capital transmission, adversely affects the supply of entrepreneurial talent and risk-taking. This limits economic progress if aggregate productivity is low. When productivity is high, economic incentives can overcome cultural inertia. Though the income level depends on culture, the growth rate in this case does not.

Date: 2015
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