On the joint evolution of culture and institutions∗ (incomplete version)

نویسندگان

  • Alberto Bisin
  • Thierry Verdier
  • Gary Becker
  • Georgy Egorov
  • Luigi Guiso
  • David Levine
  • Massimo Morelli
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.

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تاریخ انتشار 2016