MARC Record from Library of Congress

LEADER: 02184cam a22003377a 4500
001 2005615001
003 DLC
005 20050103081202.0
007 cr |||||||||||
008 050103s2004 mau sb 000 0 eng
010 $a 2005615001
040 $aDLC$cDLC
043 $ae------
050 00 $aHB1
100 1 $aGuiso, Luigi.
245 10 $aCultural biases in economic exchange$h[electronic resource] /$cLuigi Guiso, Paola Sapienza, Luigi Zingales.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2004
490 1 $aNBER working paper series ;$vworking paper 11005
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/3/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"How much do cultural biases affect economic exchange? We try to answer this question by using the relative trust European citizens have for citizens of other countries. First, we document that this trust is affected not only by objective characteristics of the country being trusted, but also by cultural aspects such as religion, a history of conflicts, and genetic similarities. We then find that lower relative levels of trust toward citizens of a country lead to less trade with that country, less portfolio investment, and less direct investment in that country, even after controlling for the objective characteristics of that country. This effect is stronger for goods that are more trust intensive and doubles or triples when trust is instrumented with its cultural determinants. We conclude that perceptions rooted in culture are important (and generally omitted) determinants of economic exchange"--National Bureau of Economic Research web site.
650 0 $aDiscrimination$zEurope.
651 0 $aEurope$xCommerce$xSocial aspects.
700 1 $aSapienza, Paola.
700 1 $aZingales, Luigi.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 11005.
856 40 $uhttp://papers.nber.org/papers/w11005