Culture, Growth and Economic Policy

  • Panagiotis E. Petrakis

Table of contents

  1. Front Matter
    Pages i-x
  2. Panagiotis E. Petrakis
    Pages 1-5
  3. The Foundations

    1. Front Matter
      Pages 7-7
    2. Panagiotis E. Petrakis
      Pages 9-18
    3. Panagiotis E. Petrakis
      Pages 19-28
    4. Panagiotis E. Petrakis
      Pages 29-49
    5. Panagiotis E. Petrakis
      Pages 51-69
    6. Panagiotis E. Petrakis
      Pages 81-93
  4. The Cultural Dimensions and the Cultural Background Change

    1. Front Matter
      Pages 95-95
    2. Panagiotis E. Petrakis
      Pages 97-115
    3. Panagiotis E. Petrakis
      Pages 117-130
    4. Panagiotis E. Petrakis
      Pages 131-142
    5. Panagiotis E. Petrakis
      Pages 143-158
  5. Cultural Background, Growth and Policy

  6. Back Matter
    Pages 221-238

About this book


It is a wide-spread belief that the cultural background inhered in a society affects the requirements of economic development. This relationship requires theoretical and empirical justification. The present book provides this together with an analysis of the development of cultural background itself. Cultural background is embodied in political institutions, in transactions, knowledge, incentives, in social capital, even in the tangibles of the economy. Thus, economic development is shaped and the rate of growth is affected. Conversely, economic development affects cultural background. When this interaction takes place at a non-developmental cultural background level, which is associated with low growth rates, then a growth trap is formed. Within such a growth trap, economic policy (public and monetary) is relatively deactivated, and the conditions influencing the change in cultural background and its timing are of primary importance.​


Cultural Background Economic Development Economic Growth Political Institutions Religion Social Capital

Authors and affiliations

  • Panagiotis E. Petrakis
    • 1
  1. 1.Department of EconomicsUniversity of AthensAthensGreece

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 2014
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-642-41439-8
  • Online ISBN 978-3-642-41440-4
  • Buy this book on publisher's site
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