Open AccessCulture in Development
Author(s) -
Shankha Chakraborty,
Jon C. Thompson,
Étienne B. Yehoue
Publication year - 2015
Publication title -
the world bank economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.542
H-Index - 89
eISSN - 1564-698X
pISSN - 0258-6770
DOI - 10.1093/wber/lhv018
Subject(s) - economics , incentive , productivity , human capital , total factor productivity , labour economics , development economics , economic system , market economy , economic growth
An anti-capitalist cultural bias, through directed within-family human capital transmission, adversely affects the supply of entrepreneurial talent and risk-taking. This limits economic progress if aggregate productivity is low. When productivity is high, economic incentives can overcome cultural inertia. Though the income level depends on culture, the growth rate in this case does not.
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