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Trade openness and cultural creative destruction

Author

Listed:
  • Christopher J. Coyne
  • Claudia R. Williamson
Abstract
Purpose - This paper seeks to analyze empirically the net effect of trade openness on “economic culture”, measured by indicators of trust, respect, level of self‐determination, and obedience. Openness to international trade means that societies are more likely to be exposed to alternative attitudes, beliefs, ideas, and values leading to a Schumpeterian process of creative destruction whereby culture is destroyed on some margins and enhanced on others. Design/methodology/approach - Using data on trade openness from Quinn and Sachs and Warner, the paper empirically evaluates the impact of trade openness on economic culture. The paper's measure of culture is taken from Tabellini and Williamson and Kerekes, where data from the World Values Survey is aggregated to create a culture variable. The paper isolates the impact of trade policies on economic culture through a variety of empirical strategies including both panel and cross sectional analysis. Findings - The central finding of the study is that a society's openness to international trade generates, on net, positive effects on economic culture. The more open a country is to trade, the more likely it is to possess culture conducive to economic interaction and entrepreneurship. Originality/value - This paper contributes to the existing literature by studying the impact of trade openness on culture. While previous studies have asked “Does culture affect economic outcomes?”, this paper explores the answer to the related question, “How does openness to trade affect culture?”.

Suggested Citation

  • Christopher J. Coyne & Claudia R. Williamson, 2012. "Trade openness and cultural creative destruction," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 1(1), pages 22-49, April.
    • Handle: RePEc:eme:jepppp:v:1:y:2012:i:1:p:22-49
    DOI: 10.1108/20452101211208344
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    Citations

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    Cited by:

    1. Cyrus Teresa L., 2012. "Cultural Distance and Bilateral Trade," Global Economy Journal, De Gruyter, vol. 12(4), pages 1-25, December.
    2. Cai, Meina & Caskey, Gregory W. & Cowen, Nick & Murtazashvili, Ilia & Murtazashvili, Jennifer Brick & Salahodjaev, Raufhon, 2022. "Individualism, economic freedom, and charitable giving," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 868-884.
    3. Frank, Jonas, 2018. "The effect of culture on trade over time: New evidence from the GLOBE data set," Hohenheim Discussion Papers in Business, Economics and Social Sciences 18-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    4. Elizabeth M Moore & Luis Alfonso Dau & Santiago Mingo, 2021. "The effects of trade integration on formal and informal entrepreneurship: The moderating role of economic development," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(4), pages 746-772, June.
    5. Dekuwmini Mornah & Raymond MacDermott, 2016. "Culture as a Determinant of Competitive Advantage in Trade," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 9(1), pages 69-76, April.
    6. Martin, Nona & Storr, Virgil Henry, 2012. "Talk changes things: The implications of McCloskey's Bourgeois Dignity for historical inquiry," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 787-791.
    7. Michelle Albert Vachris & Justin P. Isaacs, 2017. "The Role of Cultural Values in the Formation and Survival of Pro-Growth Institutions," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 32(Spring 20), pages 89-113.

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