Introduction to the special issue on institutions and culture in economic contexts

Abstract

The need of further research on the interlink between culture and institutions has been strongly advocated by economists and institutionalists alike. However, bringing together culture and institutions within an organic framework, though, is a non-trivial operation. This is due to the complexity of the synergies between cultural aspects and institutional devices. This special issue attempts to start filling this gap and to build an ad-hoc systemic platform for disseminating such a debate. To this purpose, it brings together an organic collection of contributions in well-established conceptualisations of both culture and institutions, supported by robust and consistent methodological applications. The essays presented in this work provide consistent evidence and conceptual perspectives supporting the idea that the synergies between cultural and institutional aspects are of paramount importance to understand human behaviour, individuals' choices and societies' patterns. They also improve the theoretical, empirical and methodological understanding of the role of institutions and culture in different geopolitical and socio-economic realms. By doing so, these contributions place this special issue as prelude to further research on the co-evolution of culture and institutions and on its possible implications on different societal aspects, human development and well-being.

How Does Chinese Outward Foreign Direct Investment Respond to Host Country Cultural Tolerance and Trust?

“…Institutional rules include formal ones such as laws and regulations and informal ones such as cultural customs ( Casson et al, 2010 ). The new theory of institutional economics believes that formal institutions play a role only when they are recognized by informal institutions, which is an essential factor in the operation of formal institutions ( Andriani and Bruno, 2021 ). Good institutional rules establish a standardized market environment and promote orderly investment trading activities ( Alam et al, 2019 ).…”

Tax Morality and the Intentions of Households and Business Entities to Participate in the Shadow Economy

“…In addition, women exhibit higher tax morale than men (Fotiadis, 2021). Subsequent studies conducted in 48 countries have confirmed that citizens' compliance with tax regulations depends not only on the quality of formal institutions but may also be culturally determined (Andriani, 2022).…”

National culture and corporate investment: does uncertainty matter?

“…1. Voigt (2018) adopts an incentive-based approach, arguing that culture, to be considered an informal institution, must include a sanctioning mechanism. In our perspective, we include a broader view that encompasses the moral dimension, treating common beliefs and values as essential elements of informal institutions (Andriani and Bruno, 2022). …”