Munich Personal RePEc Archive

Culture Values Entrepreneurship and Growth

Jellal, Mohamed (2009): Culture Values Entrepreneurship and Growth.

[img]
Preview
PDF
MPRA_paper_17137.pdf

Download (213Kb) | Preview

Abstract

We integrate a social norm which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight of cultural values on stock of accumulated capital as opposed to consumption will experience fast growth. Our results are consistent with those obtained by Baumol (1990) in the context of entrepreneurship and by Fershtman and Weiss (1991).

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.