Skip to main content

Table 14 The effect of culture on economic development

From: Culture, innovation, and economic development

Dependent variable Economic development
Independent variables (25) (26) (27) (28) (29) (30)
Constant 44.19*** (3.57) 42.56*** (3.90) 37.83*** (2.96) 34.69*** (3.01) 38.23*** (3.08) 37.61*** (3.39)
Hierarchy vs egalitarianism–PC1 − 1.85 (− 1.06)      
Hierarchy Vs egalitarianism–PC2   − 5.69** (− 2.15)    
Conservatism/embeddedness vs autonomy–PC1    1.19 (0.71)   
Conservatism/embeddedness vs autonomy–PC2     − 4.31* (− 1.92)  
Mastery vs harmony–PC1      1.61 (0.89)
Mastery vs harmony–PC2       − 5.26** (− 2.04)
N 107 107 105 105 107 107
R2 13.66% 26.03% 4.5% 31.68% 26.34% 23.80%
F-stat 0.69 2.46* 0.33 1.94 0.47 2.19
  1. The t statistics values are displayed in parentheses. *, **, and *** represent statistical significance at 10%, 5%, and 1% significance level, respectively. Each column represents a separate regression