Economic freedom reform: does culture matter?

Economic freedom reform: does culture matter?

We analyse the role of culture in economic freedom reform and dispersion in an unbalanced panel of up to 80 countries, and in dyadic models with up to 3,003 unique country pairs. We find that a sense of individualism strengthens the effectiveness of democracy in promoting economic freedom within cou...

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Veröffentlicht in:Journal of institutional economics 2022-02, Vol.18 (1), p.139-157
Hauptverfasser: Moellman, Nicholas, Tarabar, Danko
Format: Artikel
Sprache:eng
Schlagworte:
Bargaining
Culture
Democracy
Economic theory
Freedoms
Individualism
Politics
Reforms
Regulation
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creator Moellman, Nicholas
Tarabar, Danko
description We analyse the role of culture in economic freedom reform and dispersion in an unbalanced panel of up to 80 countries, and in dyadic models with up to 3,003 unique country pairs. We find that a sense of individualism strengthens the effectiveness of democracy in promoting economic freedom within countries over 1950–2015, and that institutional distance between countries increases in their cultural distance, suggesting an important role of culture in determining long-run institutional equilibria. Our results are robust to a large variety of socio-economic controls, measures of institutions and measures of bilateral geographic, economic and demographic distances.
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source PAIS Index; Cambridge Journals
subjects Bargaining
Culture
Democracy
Economic theory
Freedoms
Individualism
Politics
Reforms
Regulation
title Economic freedom reform: does culture matter?
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