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Social culture and economic performance

Опубликовано на портале: 15-12-2002
American Economic Review. 2001.  Vol. 91. No. 4. P. 924-937. 
Тематический раздел:
The connection between obtaining higher paying jobs and undertaking some seemingly irrelevant activity is interpreted as social culture. In the context of a society trying to adopt a new technology, it is shown that by allowing the firms to give preferential treatment to workers based on some cultural activity, the society can partially overcome an informational free-riding problem. Therefore, social culture may affect the economic performance by altering the effective production technology of the economy.