Culture Values Entrepreneurship and Growth

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

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).

• Item Type: MPRA Paper
• Language: English
• Keywords: Entrepreneurship;Culture Values;Social Status;Growth
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification

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