The interaction of individual values and sticky formal institutions in economic development

Judit Kapás
This paper intends to take a step towards improving our understanding of how culture affects economic development. Relying on the theory of institutional stickiness (Boettke et al. 2008), the main hypothesis is that the "deep" cultural layer (proxied by individual values) interacts with the stickiest formal institutions in development, which leads to a very special "stuck-together" phenomenon. The aim of the paper is to investigate this specific effect empirically, and show the genuinely unique role...
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