A1 Journal article (refereed)
Culture and current account balances (2015)

Nieminen, M., Heimonen, K., & Mangeloja, E. (2015). Culture and current account balances. Applied Economics Letters, 22(11), 886-890. https://doi.org/10.1080/13504851.2014.985365

JYU authors or editors

Nieminen, Mika
Heimonen, Kari
Mangeloja, Esa

Publication details

All authors or editors: Nieminen, Mika; Heimonen, Kari; Mangeloja, Esa

Journal or series: Applied Economics Letters

ISSN: 1350-4851

eISSN: 1466-4291

Publication year: 2015

Volume: 22

Issue number: 11

Pages range: 886-890

Publisher: Routledge

Publication country: United Kingdom

Publication language: English

DOI: https://doi.org/10.1080/13504851.2014.985365

Publication open access: Not open

Publication channel open access:

Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/46710

Abstract

This article contributes to the literature of current account balances by introducing cultural variables that until now have been omitted. The World Values Survey indicates that the Roman Catholics do not consider thrift as important as others. We propose that Catholic countries tend to run current account deficits. This result remains robust even if we control for close to all of the determinants that have been included in previous studies. We find evidence that the inclination of Catholic countries to have high levels of uncertainty avoidance goes to a great length in explaining the result.

Keywords: Catholics; states (countries); saving; current account; cultural differences

Free keywords: religion

Fields of science: