On the joint evolution of culture and institutions∗ (incomplete version)
نویسندگان
چکیده
What accounts for economic growth and prosperity? What stands at their origin? Recent literature typically searches for single univariate causal explanations: institutions, culture, human capital, geography. In this paper we provide instead a first theoretical modeling of the interaction between different possible explanations for growth and prosperity (in particular, between culture and institutions) and their effects on economic activity. Depending on the economic environment, culture and institutions might complement each other, giving rise to a multiplier effect, or on the contrary they can act as substitutes, contrasting each other and limiting their combined ability to spur economic activity. By means of examples we show how the dynamics may display non-ergodic behavior, hysteresis, oscillating behaviors and interesting comparatve dynamics . First draft : September 2015 Journal of Economic Literature Classification Numbers: D10, I20, J13.
منابع مشابه
Nber Working Paper Series on the Joint Evolution of Culture and Institutions
Explanations of economic growth and prosperity commonly identify a unique causal effect, e.g., institutions, culture, human capital, geography. In this paper we provide instead a theoretical modeling of the interaction between culture and institutions and their effects on economic activity. We characterize conditions on the socio-economic environment such that culture and institutions complemen...
متن کاملOn the Joint Evolution of Culture and Institutions∗
Explanations of economic growth and prosperity commonly identify a unique causal effect, e.g., institutions, culture, human capital, geography. In this paper we provide instead a theoretical modeling of the interaction between culture and institutions and their effects on economic activity. We characterize conditions on the socio-economic environment such that culture and institutions complemen...
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