Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development

Why do similar economic and political institutions function differently in various cultures? Do cultural traits, differences in individualism versus collectivism, have a causal impact on economic behavior and development? This article presents a recent survey of the literature on the relationship be...

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Autor principal:	Necati Berk
Formato:	article
Lenguaje:	EN
Publicado:	Voprosy Ekonomiki 2021
Materias:	Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/7713f2f91b4841ac897e757ff7713404
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id	oai:doaj.org-article:7713f2f91b4841ac897e757ff7713404
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spelling	oai:doaj.org-article:7713f2f91b4841ac897e757ff77134042021-12-05T04:30:56ZAnalysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development10.32609/j.ruje.7.578942405-4739https://doaj.org/article/7713f2f91b4841ac897e757ff77134042021-12-01T00:00:00Zhttps://rujec.org/article/57894/download/pdf/https://rujec.org/article/57894/download/xml/https://rujec.org/article/57894/https://doaj.org/toc/2405-4739Why do similar economic and political institutions function differently in various cultures? Do cultural traits, differences in individualism versus collectivism, have a causal impact on economic behavior and development? This article presents a recent survey of the literature on the relationship between culture, institutions, and economic growth. On the one hand, part of the literature indicates that there is a one-way causality from culture to institutions and economic performance. On the other hand, there is an extensive literature that has established causality from institutions to economic growth and culture. However, a growing body of empirical research demonstrates that culture and institutions interact in two ways and complement each other affecting long-term growth. Research documents cultural variables affecting a great deal of economic activity and institutions across the world. Recent dominant discourse on the role of the individualism-collectivism cleavage in the determination of the wealth of nations has attempted to examine the positive effects of individualism rather than collectivism. This paper shows that the advantages of collectivism have been rarely researched within economic literature. Taking into account collectivism can shed light on various puzzles in economics, such as solving collective action problems.Necati BerkVoprosy EkonomikiarticleEconomics as a scienceHB71-74ENRussian Journal of Economics, Vol 7, Iss 3, Pp 185-199 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Economics as a science HB71-74
spellingShingle	Economics as a science HB71-74 Necati Berk Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
description	Why do similar economic and political institutions function differently in various cultures? Do cultural traits, differences in individualism versus collectivism, have a causal impact on economic behavior and development? This article presents a recent survey of the literature on the relationship between culture, institutions, and economic growth. On the one hand, part of the literature indicates that there is a one-way causality from culture to institutions and economic performance. On the other hand, there is an extensive literature that has established causality from institutions to economic growth and culture. However, a growing body of empirical research demonstrates that culture and institutions interact in two ways and complement each other affecting long-term growth. Research documents cultural variables affecting a great deal of economic activity and institutions across the world. Recent dominant discourse on the role of the individualism-collectivism cleavage in the determination of the wealth of nations has attempted to examine the positive effects of individualism rather than collectivism. This paper shows that the advantages of collectivism have been rarely researched within economic literature. Taking into account collectivism can shed light on various puzzles in economics, such as solving collective action problems.
format	article
author	Necati Berk
author_facet	Necati Berk
author_sort	Necati Berk
title	Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
title_short	Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
title_full	Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
title_fullStr	Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
title_full_unstemmed	Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development
title_sort	analysis of the role of collectivism in light of the recent literature on the big triangle: institutions, culture, and economic development
publisher	Voprosy Ekonomiki
publishDate	2021
url	https://doaj.org/article/7713f2f91b4841ac897e757ff7713404
work_keys_str_mv	AT necatiberk analysisoftheroleofcollectivisminlightoftherecentliteratureonthebigtriangleinstitutionscultureandeconomicdevelopment
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Analysis of the role of collectivism in light of the recent literature on the big triangle: Institutions, culture, and economic development

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