Skip to main content
SpringerLink
Log in

Culture, Institutions and Politics as Crisis Generators

  • Chapter
  • First Online:
Book cover European Economics and Politics in the Midst of the Crisis

  • 652 Accesses

Abstract

Europe and, more specifically, the Eurozone, is a special example of a unification of states. It comprises entities with strong individual identities, histories and cultures. It is, in fact, a mosaic of nations and cultures with intense resistance to the surrendering of their national rights. Hence, the governance of Europe is a rather difficult undertaking. This chapter analyses the dominant cultural backgrounds of the separate European countries and examines certain elements of political balance within Europe. Furthermore, the governance of Europe, the decision-making mechanisms and the quality of political institutions are examined and reference is made to the institutions and the incentives characterizing the social and economic realities of the European economy.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Acemoglu D, Robinson JA (2012) Why nations fail: the origins of power, prosperity and poverty. Crown Publishers, New York

    Google Scholar 

  • Acemoglu D, Johnson S, Robinson JA (2005) The rise of Europe: Atlantic trade, institutional change, and economic growth. Am Econ Rev 95(3):546–579

    Article  Google Scholar 

  • Bowen HP, Clercq D (2008) Institutional context and the allocation of entrepreneurial effort. J Intl Bus Stud 39:747–767

    Article  Google Scholar 

  • Buccirossi P, Ciari L, Duso T, Spagnolo G, Vitale C (2009) Competition policy and productivity growth: an empirical assessment, CEPR discussion paper no 7470

    Google Scholar 

  • Chang Ha-Joon (ed) (2007) Institutional change and economic development. Anthem Press, New York

    Google Scholar 

  • Crafts N (2011) Western Europe’s growth prospects: an historical perspective. Competitive Advantage in the Global Economy Research Centre, University of Warwick

    Google Scholar 

  • De Jong E (2009) Culture and economics: on values, economics, and international business. Routledge, London

    Google Scholar 

  • Dequech D (1999) Expectations and confidence under uncertainty. J Post Keyn Ec 21(3):415–430

    Google Scholar 

  • Dequech D (2006) The new institutional economics and the theory of behaviour under uncertainty. J Econ Behav Organ 59(1):109–131

    Article  Google Scholar 

  • Easterly W, Ritzen J, Woolcock M (2006) Social cohesion, institutions, and growth. Econ Polit 18(2):103–120

    Article  Google Scholar 

  • Georgas J, Berry WJ (1995) An ecocultural taxonomy for cross-cultural psychology. Cross Cult Res 29(May):121–157

    Article  Google Scholar 

  • Greif A (2006) Institutions and the path to the modern economy: lessons from medieval trade. Cambridge University Press, Cambridge. ISBN 9780521671347

    Book  Google Scholar 

  • Griffith R, Harrison R, Simpson H (2006) Product market reform and innovation in the EU. Scand J Econ 112:389–415

    Article  Google Scholar 

  • Hall P, Thelen K (2009) Institutional change in varieties of capitalism. Socio-Econ Rev 7(1):7–34. doi:10.1093/ser/mwn020

    Article  Google Scholar 

  • Hayton CJ, Gerard G, Zahra AS (2002) National culture and entrepreneurship: a review of behavioral research. Entrep Theory Pract 26(Summer):33–52

    Google Scholar 

  • Hessels SJA, Van Stel AJ, Brouwer P, Wennekers ARM (2006) Social security arrangements and early-stage entrepreneurial activity: an empirical analysis, EIM scales paper N200518. ΕΙΜ, Zoetermeer

    Google Scholar 

  • Hodgson GM (1988) A manifesto for a modern institutional economics. Polity Press, Cambridge

    Google Scholar 

  • Hofstede G (1980) Culture’s consequences: international differences in work-related values. Sage, Beverly Hills

    Google Scholar 

  • Hofstede G (2001) Culture’s consequences – comparing values, behaviours, Institutions and organisations across nations, 2nd edn. Sage, London

    Google Scholar 

  • Hofstede G, Hofstede GJ, Minkov M (2010) Cultures and organizations: software of the mind, 3rd edn. McGraw-Hill, Maidenhead

    Google Scholar 

  • House JR, Hanges PJ, Javidan M, Dorfman WP, Gupta V (2004) Culture, leadership and organisations – the GLOBE study of 62 societies. Sage, Thousand Oaks

    Google Scholar 

  • Inglehart R (1997) Modernization and postmodernization: changing values and political styles in advanced industrial society. Princeton University Press, Princeton

    Google Scholar 

  • Kluckhohn F, Strodtbeck F (1961) Variations in value orientation. Harper Collins, New York

    Google Scholar 

  • Lavoie M (1992) Foundations of post-Keynesian economic analysis. Edward Elgar, Aldershot-Brookfield

    Google Scholar 

  • Loasby BJ (2001) Cognition, imagination and institutions in demand creation. J Evol Econ 11(1):7–21

    Article  Google Scholar 

  • Locke J [1689] (1988) Two treatises of government. Cambridge University Press, Cambridge

    Google Scholar 

  • Marks G (1993) Structural policy and multilevel governance in the EC. In: Cafruny A, Rosenthal G (eds) The state of the European community. The Maastricht debates and beyond, boulder, Colorado, vol 2. Lynne Rienner, London

    Google Scholar 

  • Marks G, Hooghe L, Blank K (1996) European integration in the 1980s: state-centric versus multi-level governance. J Common Mark Stud 34:341–378

    Article  Google Scholar 

  • McClelland CD (1961) The achieving society. Van Nostrand, New Jersey

    Book  Google Scholar 

  • Mill JS [1848] (1973) Principles of political economy with some of their applications to social philosophy. William JA (ed), A.M. Kelley, New York

    Google Scholar 

  • Minkov M, Blagoev V (2009) Cultural values predict subsequent economic growth. Int J Cross-Cult Manag 9(April):5–24

    Article  Google Scholar 

  • Nicoletti G, Scarpetta S (2003) Regulation, productivity and growth: OECD evidence. Econ Policy 36:9–72

    Article  Google Scholar 

  • North DC (1981) Structure and change in economic history. WW Norton & Company, New York

    Google Scholar 

  • North D (1990) Institutions, institutional change and economic performance. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • OECD (2011) Government at a glance. OECD

    Google Scholar 

  • Portes A, Smith L (2011) Institutions and national development in Latin America: a comparative study. Socio-Econ Rev 8(4):585–621. doi:10.1093/ser/mwq018

    Article  Google Scholar 

  • Rodrik PD, Subramanian A, Trebbi F (2004) Institutions rule: the primacy of institutions over geography and integration in economic development. J Econ Growth 9:131–165

    Article  Google Scholar 

  • Romer P (1986) Increasing returns and long-run growth. J Pol Econ 94(5):500–521, 1002–1037

    Article  Google Scholar 

  • Rutherford M (1994) Institutions in economics. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • Savig L, Schwartz SH (2007) Cultural values in organisations: insights for Europe. Eur J Int Manag 1(July):176–190

    Google Scholar 

  • Schumpeter J (1934) The theory of economic development. Harvard University Press, Cambridge, MA

    Google Scholar 

  • Simon HA (1957) Models of man: social and rational. Wiley, New York

    Google Scholar 

  • Solimano A, Avanzini D (2012) The international circulation of elites: knowledge, entrepreneurial and political. In: Amsden A, DiCaprio A, Robinson J (eds) The role of elites in economic development. Oxford University Press, Oxford

    Google Scholar 

  • Solow RM (1957) Technical change and the aggregate production function. Rev Econ Stat 39:312–320

    Article  Google Scholar 

  • Throsby D (2001) Economics and culture. Cambridge University Press, New York

    Google Scholar 

  • Triandis CH (1994) Culture and social behaviour. McGraw-Hill, New York

    Google Scholar 

  • UNDP – Human Development Report (2011) Sustainability and equity: a better future for all. UNDP – Human Development Report, New York

    Google Scholar 

  • van Stel AJ, Storey DJ, Thurik AR (2007) The effect of business regulations on nascent and young business entrepreneurship. Small Bus Econ 28:171–186

    Article  Google Scholar 

  • Weber M (1930) The protestant ethic and the spirit of capitalism. Unwin Hyman, London

    Google Scholar 

  • Wennekers ARM, Thurik AR (1999) Linking entrepreneurship and economic growth. Small Bus Econ 13:27–55

    Article  Google Scholar 

  • WEO (2012) Growth resuming, dangers remain. IMF

    Google Scholar 

  • Wölfl A, Wanner I, Kozluk T, Nicoletti G (2009) Product market regulation in OECD countries 1998–2008, OECD Economics Department working papers no 695

    Google Scholar 

  • World Bank (2002) World development report “building institutions for markets”. World Bank

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Economics, University of Athens, Athens, Greece

    Panagiotis E. Petrakis, Pantelis C. Kostis & Dionysis G. Valsamis

Authors
  1. Panagiotis E. Petrakis
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Pantelis C. Kostis
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Dionysis G. Valsamis
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

Copyright information

© 2013 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Petrakis, P.E., Kostis, P.C., Valsamis, D.G. (2013). Culture, Institutions and Politics as Crisis Generators. In: European Economics and Politics in the Midst of the Crisis. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-41344-5_7

Download citation

  • DOI: https://doi.org/10.1007/978-3-642-41344-5_7

  • Published:

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-41343-8

  • Online ISBN: 978-3-642-41344-5

  • eBook Packages: Business and EconomicsEconomics and Finance (R0)

Publish with us

Policies and ethics

Search

Navigation