CentER

Radislav Semenov

Abstract:
Mechanisms through which economic agents coordinate their activities differ dramatically across nations. These differences largely persist despite an increasing internationalization of economies. This thesis investigates the causes of differences in organ ation of industrial finance, in governance of industrial relations, and in processes of economic policy formation and implementation among industrialized Western countries. The analysis of potential explanations reveals that, in each case, the best explan ion for cross-country differences in governance mechanisms is provided by differences of national cultures. The ways in which economic interactions are governed prove to be very closely related to cultural characteristics of societies in which they take p ce. We investigate mechanisms through which national culture influences the character of mechanisms of economic governance.