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Perspectives on the Performance of the Continental Economies$
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Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

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Economic Culture and Economic Performance: What Light Is Shed on the Continent’s Problem?

Economic Culture and Economic Performance: What Light Is Shed on the Continent’s Problem?

Chapter:
(p.447) 15 Economic Culture and Economic Performance: What Light Is Shed on the Continent’s Problem?
Source:
Perspectives on the Performance of the Continental Economies
Author(s):

Edmund S. Phelps

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015318.003.0015

This chapter explores the effects of several cultural values, attitudes, and the like, on some of the main dimensions of economic performance. It shows a weak correlation between continental countries’ relative endowment of some cultural attributes and the relative performance of their national economies. Yet, not all of the cultural attributes hypothesized to be important were found to matter for performance. And not all continental countries were under-endowed in some of the cultural attributes that mattered a lot.

Keywords:   European culture, cultural values, economic performance, European countries

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