6533b861fe1ef96bd12c59de
RESEARCH PRODUCT
Culture and current account balances
Mika NieminenEsa MangelojaKari Heimonensubject
Uncertainty avoidanceEconomics and Econometricsta511Control (management)vaihtotase1. No povertysäästäminenCurrent accountkatolisetvaltiotculturereligionDevelopment economicsEconomicskulttuurierotWorld Values SurveyClassical economicscurrent accountRoman Catholicsdescription
This article contributes to the literature of current account balances by introducing cultural variables that until now have been omitted. The World Values Survey indicates that the Roman Catholics do not consider thrift as important as others. We propose that Catholic countries tend to run current account deficits. This result remains robust even if we control for close to all of the determinants that have been included in previous studies. We find evidence that the inclination of Catholic countries to have high levels of uncertainty avoidance goes to a great length in explaining the result. peerReviewed
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2014-12-02 |