Cultural attributes, national saving and economic outcomes

Amir Shoham, Miki Malul

Research output: Contribution to journalArticlepeer-review

5 Scopus citations

Abstract

Economic and financial researchers rarely use culture as an exploratory variable for economic and financial events. This paper explores the role of cultural attributes in a nation's welfare. First, we use a theoretical model to show that the higher a nation's long term orientation, the more it chooses to save. We also show that nations with higher long term orientation enjoy a higher level of welfare. We complement the theoretical model with empirical analysis using a panel of data for 86 countries, from 1999 to 2009. The results from the empirical study support our proposition that nations with a higher long term orientation have higher saving rates.

Original languageEnglish
Pages (from-to)180-184
Number of pages5
JournalJournal of Socio-Economics
Volume47
DOIs
StatePublished - 1 Dec 2013

Keywords

  • Culture
  • Saving
  • Welfare

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