CULTURE’S CONSEQUENCES FOR ECONOMIC DEVELOPMENT
©Journal of Global Business and Technology, Volume 2, Number 1, Spring 2006
48
CULTURE’S CONSEQUENCES FOR ECONOMIC
DEVELOPMENT: AN EMPIRICAL EXAMINATION
OF CULTURE, FREEDOM, AND NATIONAL
MARKET PERFORMANCE


Steven D. Papamarcos and George W. Watson
1


ABSTRACT

In this study we empirically examine the role of culture in encouraging or discouraging country-level
economic performance. We find that, when it comes to economic growth, not all cultures are created equal.
For the global company and the practicing manager, our results indicate that cultural values appear to have
some statistically significant and operationally meaningful economic effects. We also evolve and test a more
encompassing framework within which cultural and political factors continuously interact to enable or
discourage growth. Our interactive model explains fully 51 percent (p<.01) of the country-to-country variance
in per capita GDP......

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Title: Culture,S Consequences For Economic Development
Approximate Word Count: 5281
Approximate Pages: 22 (250 words per double-spaced page)

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