Arbeitspapier
Values and norms matter: on the basic determinants of long-run economic development
Over the last couple of decades, it has become a commonplace to claim that institutions matter for economic development. Yet, institutions are not exogenous but the result of hu-man action. It is argued here that the values and norms held by substantial parts of society’s members are an important determinant of its institutions. It is further argued that values and norms have both a direct and an indirect effect on economic development: the direct effect materializes because the values and norms also contain the work ethic which, if transformed into behavior, should have direct consequences on economic development. The indirect effect is conjectured to work via the relevant institutions: if institutions are important for economic development and institutions are influenced by the values and norms, then this is a more indi-rect channel through which values and norms can display their impact.
- Language
-
Englisch
- Bibliographic citation
-
Series: MAGKS Joint Discussion Paper Series in Economics ; No. 2008,22
- Classification
-
Wirtschaft
Institutions and Growth
General Aggregative Models: Other
General Outlook and Conditions
Macroeconomic Analyses of Economic Development
Microeconomic Analyses of Economic Development
Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
- Subject
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Institutions
Values and Norms
Democracy
Rule of Law
Culture
Social Capital
Civil Society
Economic Development
Total Factor Productivity
- Event
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Geistige Schöpfung
- (who)
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Voigt, Stefan
Park, Sang-Min
- Event
-
Veröffentlichung
- (who)
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Philipps-University Marburg, Faculty of Business Administration and Economics
- (where)
-
Marburg
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Voigt, Stefan
- Park, Sang-Min
- Philipps-University Marburg, Faculty of Business Administration and Economics
Time of origin
- 2008
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Does arbitration blossom when state courts are bad?
Die unabhängige Justiz – eine vernachlässigte Determinante zur Erklärung der Zentralbankunabhängigkeit?
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