• James Ang Nanyang Technological University
Keywords: technology, innovation, individualism


Cultural heritage is a major driver of behavioral, social and economic norms in a society. This paper studies the relationship between culture and economic development by focusing on how individualism is related to technological innovation. It hypothesizes that individualistic people tend to have beliefs and views that emphasize the importance of innovation and creativity. Using individual-level data from the World Values Survey, the results provide some evidence in favor of this hypothesis.


Download data is not yet available.


Aghion, P., & Howitt, P. (2007). Capital, Innovation, and Growth Accounting. Oxford Review of Economic Policy, 23, 79-93.
Alesina, A., & Giuliano, P. (2010). The Power of the Family. Journal of Economic Growth, 15, 93-125.
Ashraf, Q., & Galor, O. (2007). Cultural Assimilation, Cultural Diffusion, and the Origin of the Wealth of Nations. CEPR Working Paper No 6444.
Ball, R. (2001). Individualism, Collectivism, and Economic Development. Annals of the American Academy of Political and Social Science, 573, 57-84.
Comin, D., & Hobijn, B. (2010). 'An Exploration of Technology Diffusion', American Economic Review 100, 2031-2059.
Comin, D., Hobijn, B., & Rovito, E. (2008). Technology Usage Lags. Journal of Economic Growth, 13, 237-256.
Dion, K.K., & Dion, K.L. (1996). Cultural Perspectives on Romantic Love. Personal Relationships, 3, 5-17.
Giuliano, P., Spilimbergo, A., & Tonon, G. (2006). Genetic, Cultural, and Geographical Distances. IZA Discussion Papers, 2229.
Gorodnichenko, Y., & Roland, G. (2011). Individualism, Innovation, and Long-Run Growth. Proceedings of the National Academy of Sciences of the United States, 108, 21316–21319.
_____ (2017). Culture, Institutions, and the Wealth of Nations. Review of Economics and Statistics, 99, 402-416.
Greif, A. (1994). Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies. Journal of Political Economy, 102, 912-950.
Hall, R.E., & Jones, C.I. (1999). Why Do Some Countries Produce So Much More Output Per Worker Than Others? Quarterly Journal of Economics, 114, 83-116.
Hofstede, G. (1980). Culture's Consequences: International Differences in Work-Related Values. Beverly Hills CA: Sage Publications.
Inglehart, R. (1990). Culture Shift in Advanced Industrial Society. Princeton, NJ: Princeton University Press.
Lal, D. (1999). Unintended Consequences: The Impact of Factor Endowments, Culture, and Politics on Long-Run Economic Performance. Cambridge, MA: MIT Press.
Lester, D. (1995). Individualism and Divorce. Psychological Reports, 76, 258.
Macfarlane, A. (1979). The Origins of English Individualism. New York: Cambridge University Press.
Mokyr, J. (2005). Long-Term Economic Growth and the History of Technology. Handbook of Economic Growth, eds. P. Aghion and S. Durlauf (Amsterdam: North-Holland), 1113-1180.
_____ (1994). Beyond Individualism and Collectivism: New Cultural Dimensions of Values. Individualism and Collectivism: Theory, Method, and Applications eds. U. Kim, H. C. Triandis, C. Kagitcibasi, S.-C. Choi and G. Yoon. Newbury Park, CA: Sage, 85-122.
Tabellini, G. (2008). Presidential Address: Institutions and Culture. Journal of the European Economic Association, 6, 255-294.
Triandis, H.C. (1995). Individualism and Collectivism. Boulder, CO: Westview.
How to Cite
Ang, J. (2018). CULTURAL HERITAGE AND INNOVATION. Buletin Ekonomi Moneter Dan Perbankan, 21(2), 142-148.