Article ID Journal Published Year Pages File Type
7370574 The Journal of Socio-Economics 2013 5 Pages PDF
Abstract
► This paper explores the role of cultural attributes in a nation's welfare. ► First, we use a theoretical model to show that the higher a nation's long term orientation (LTO), the more it chooses to save. ► We also show that nations with higher LTO enjoy a higher level of welfare. ► We complement the theoretical model with empirical analysis using a panel data for 86 countries, from 1999 to 2009. ► The results from the empirical study support our proposition that nations with a higher LTO have higher saving rates.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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