Culture as Capital: Exploring the Economic Impact of Societal Values and Institutions
DOI:
https://doi.org/10.69760/portuni.0104025Keywords:
economic development, cultural dimensions, productivity, innovation, cultural variables, economic variablesAbstract
This paper explores how culture influences economic development across nations and regions. By examining cultural values, norms, and institutions through empirical and theoretical lenses, the study identifies key cultural dimensions—such as trust, work ethic, and individualism—that correlate with economic outcomes. Data from cross-national surveys and economic indicators are analyzed to draw connections between cultural traits and economic performance. The findings suggest that culture is a foundational element of development, shaping both formal institutions and individual behavior in the economy. Using a mixed-methods approach that combines statistical analysis with comparative case studies, the findings reveal that cultural traits significantly correlate with economic outcomes.
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