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Culture, Growth and Economic Policy

  • Book
  • © 2014

Overview

Authors:
  1. Panagiotis E. Petrakis

    1. Department of Economics, University of Athens, Athens, Greece

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  • Shows how culture shapes the economy

  • Analyses the mutual interdependency between culture and economic development

  • Describes the development of cultural dimensions and stereotypes

  • Includes supplementary material: sn.pub/extras

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Table of contents (16 chapters)

  1. Front Matter

    Pages i-x
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  2. Introduction

    • Panagiotis E. Petrakis
    Pages 1-5

  3. The Foundations

    1. Front Matter

      Pages 7-7
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    2. Human Needs and Cultural Background

      • Panagiotis E. Petrakis
      Pages 9-18

    3. The Construction of Cultural Background

      • Panagiotis E. Petrakis
      Pages 19-28

    4. Culture in Economic Thinking

      • Panagiotis E. Petrakis
      Pages 29-49

    5. Cultural Background and Economic System

      • Panagiotis E. Petrakis
      Pages 51-69

    6. The Effect of Cultural Background on Incentives, Growth and Distribution, and Vice Versa

      • Panagiotis E. Petrakis
      Pages 71-80

    7. Cultural Background and Rationality

      • Panagiotis E. Petrakis
      Pages 81-93

  4. The Cultural Dimensions and the Cultural Background Change

    1. Front Matter

      Pages 95-95
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    2. Cultural Surveys

      • Panagiotis E. Petrakis
      Pages 97-115

    3. Collectivism as an Aid or Obstacle to Economic Growth

      • Panagiotis E. Petrakis
      Pages 117-130

    4. Power Distance, Uncertainty, Time and Growth

      • Panagiotis E. Petrakis
      Pages 131-142

    5. The Cultural Background Change

      • Panagiotis E. Petrakis
      Pages 143-158

  5. Cultural Background, Growth and Policy

    1. Front Matter

      Pages 159-159
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    2. Economic Growth and Cultural Background

      • Panagiotis E. Petrakis
      Pages 161-171

    3. Cultural Background, Transaction Costs and Economic Institutions

      • Panagiotis E. Petrakis
      Pages 173-181

    4. The Effects of Culture, Transactions and Institutions on Opportunity Entrepreneurship

      • Panagiotis E. Petrakis
      Pages 183-193

    5. The Effects of Cultural Background and Knowledge Creation on Self-Employment and Entry Density Rates

      • Panagiotis E. Petrakis
      Pages 195-203

    6. Cultural Background, Growth and Economic Policy

      • Panagiotis E. Petrakis
      Pages 205-219
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Keywords

About this book

It is a wide-spread belief that the cultural background inhered in a society affects the requirements of economic development. This relationship requires theoretical and empirical justification. The present book provides this together with an analysis of the development of cultural background itself. Cultural background is embodied in political institutions, in transactions, knowledge, incentives, in social capital, even in the tangibles of the economy. Thus, economic development is shaped and the rate of growth is affected. Conversely, economic development affects cultural background. When this interaction takes place at a non-developmental cultural background level, which is associated with low growth rates, then a growth trap is formed. Within such a growth trap, economic policy (public and monetary) is relatively deactivated and the conditions influencing the change in cultural background and its timing are of primary importance.

Authors and Affiliations

  • Department of Economics, University of Athens, Athens, Greece

    Panagiotis E. Petrakis

About the author

P.E. Petrakis is professor of economics at the University of Athens, Department of Economics. His main fields of interest are economic growth, entrepreneurship and economic policy.

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