Aroob Memon


Master of Science in Economics

Faculty / School

Faculty of Business Administration (FBA)


Department of Economics

Date of Submission



Dr. Qaiser Munir

Project Type

MSECO Research Project

Access Type

Restricted Access


This research attempts to investigate whether informal institutions, also known as culture, can play a role in explaining economic growth in countries. The hypothesis accentuates that cultural aspects of a country can influence its economic organization. To test my hypothesis, I consider various aspects of culture as identified in the literature by Tabellini (2008). Cultural aspects including but not limited to; respect, trust, control, and obedience, impact economic growth. As they evolve, these traits change an individual’s attitudes towards economic dealings and consequently lead to a better economy. The paper explores the link between culture and GDP per capita, as a proxy for economic growth, in a sample of countries for the period 1981 to 2014, within the framework of an augmented Solow-swan model of economic growth. While using the system GMM technique for panel data analysis, I find that culture considerably influences the level of economic growth. To ensure the robustness of my findings I include regional dummies as well as polity and income indicators in my analysis.


viii, 23

The full text of this document is only accessible to authorized users.