Culture shock and direct investment in poor countries
成果类型：
Article
署名作者：
Texas A&M University System; Texas A&M University College Station
刊物名称：
JOURNAL OF ECONOMIC HISTORY
ISSN/ISSBN：
0022-0507
DOI：
10.1017/S0022050700022269
发表日期：
1999
页码：
1-16
关键词：
摘要：
The role of culture in economic development is experiencing renewed interest among scholars. This study proposes high intercultural transactions costs as a reason for the enduring scarcity of modem capital and technology in poor countries and conducts a statistical test based on the premise that cultural diffusion reduces these costs. The stock of direct investment in poor countries at the end of the colonial era is shown, as predicted, to be directly correlated with the diffusion of Western culture in the European empires and elsewhere.