Trust among individuals in society may have various economic and social implications. Though, worldwide data on economic growth seldom deem trust as an ingredient in manipulating economic outcomes. Thus, in this model trust is included instigating from an individual, affecting community and...

The choice of the spatial scale of analysis is a problematic issue in applied research, particularly in the literature of regional economic growth. Nevertheless, it is evident that regional scientists have been slow at demonstrating the empirical implications of changes in spatial scale of...

We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that affect the steepness of the lifetime consumption profile....

The aim of this paper is to investigate the role of culture, viewed according to Throsby’s definition of cultural capital (that is, an asset of tangible and intangible cultural expressions), in fostering economic growth. Recent literature in the field of cultural economics highlights a...

This research studies the dynamic interplay between the evolution of cultural traits and the process of economic development. In particular, this paper shows how cultural attitudes, in this case differences in risk attitudes, influence economic decision making while at the same time illustrating...

Policies, saving rates, human capital, etc. are possible explanations for poor economic performance, but while these factors are changeable, underdevelopment persists. Looking for an unchangeable factor, we construct a theory for the effect of cultural values, such as moral values, risk-taking,...

Trustworthiness is the basis for maximizing output in economic exchange and in explaining differences in standards of living around the world. A society's willingness to trust and the quality of its institutions have their origins in the trustworthiness of its citizens. We propose a theoretical...