2004, English, Article, Working paper edition: Cultural biases in economic exchange [electronic resource] / Luigi Guiso, Paola Sapienza, Luigi Zingales. Guiso, Luigi.

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Bookmark: http://trove.nla.gov.au/version/9737039
Published
  • Cambridge, MA : National Bureau of Economic Research, c2004.
Language
  • English

Edition details

Title
  • Cultural biases in economic exchange /​ Luigi Guiso, Paola Sapienza, Luigi Zingales.
Author
  • Guiso, Luigi.
Other Authors
  • Zingales, Luigi.
  • Sapienza, Paola.
  • National Bureau of Economic Research.
Published
  • Cambridge, MA : National Bureau of Economic Research, c2004.
Medium
  • [electronic resource]
Series
Subjects
Summary
  • "How much do cultural biases affect economic exchange? We try to answer this question by using the relative trust European citizens have for citizens of other countries. First, we document that this trust is affected not only by objective characteristics of the country being trusted, but also by cultural aspects such as religion, a history of conflicts, and genetic similarities. We then find that lower relative levels of trust toward citizens of a country lead to less trade with that country, less portfolio investment, and less direct investment in that country, even after controlling for the objective characteristics of that country. This effect is stronger for goods that are more trust intensive and doubles or triples when trust is instrumented with its cultural determinants. We conclude that perceptions rooted in culture are important (and generally omitted) determinants of economic exchange"--National Bureau of Economic Research web site.
Notes
  • Title from PDF file as viewed on 1/​3/​2005.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader
  • Mode of access: World Wide Web
Language
  • English
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