Institutions and Growth Volatility
Küçük Resim Yok
Tarih
2011
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Wiley
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Recently some studies provided evidence that democratic political institutions generate less volatile growth. These studies, however, do not provide any link between democracy and investment volatility. Here, we focus on the specific channel that links individualistic societies and low growth volatility. We test whether investment volatility and consequently growth volatility are lower in individualistic societies. We construct a two-equation system of investment and income growth volatility, allowing various measures of individualism to influence growth volatility both directly and indirectly. We find that individualism significantly directly and indirectly influences growth volatility negatively.
Açıklama
Anahtar Kelimeler
Democratic İnstitutions, İndividualism, Collectivism, İnvestment Volatility, Growth Volatility, Organization, Democracy
Kaynak
Economic Papers
WoS Q Değeri
N/A
Scopus Q Değeri
Q3
Cilt
30
Sayı
2
