Online from: 2000
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|Title:||The island factor as a growth booster for nations: a mental advantage econometrically revealed|
|Author(s):||Jean-Eric Aubert, (The Knowledge for Development Program, Human Development Department, World Bank Institute, The World Bank, Paris, France), Derek H.C. Chen, (The Knowledge for Development Program, Human Development Department, World Bank Institute, The World Bank, Paris, France)|
|Citation:||Jean-Eric Aubert, Derek H.C. Chen, (2008) "The island factor as a growth booster for nations: a mental advantage econometrically revealed", Journal of Intellectual Capital, Vol. 9 Iss: 2, pp.178 - 205|
|Keywords:||Cultural synergy, Economic growth, Equal opportunities, Geography|
|Article type:||Research paper|
|DOI:||10.1108/14691930810870292 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Acknowledgements:||The views expressed in this paper are solely those of the authors and do not necessarily represent those of the World Bank. The authors are grateful to Ms Lan Joo for excellent research assistance.|
Purpose – This paper aims to postulate that countries which are either geographical or cultural islands, (defined as countries that are surrounded by neighboring countries that do not speak the same language), tend to experience higher rates of economic growth, all other things being equal.
Design/methodology/approach – Using historical macroeconomic data for a large number of countries and statistical growth regressions that include island dummy variables as explanatory variables, this paper shows that there is econometric evidence supporting the theory of the island factor.
Findings – The findings highlight the importance of a cohesive society with a strong sense of identity while being economically open to global competitive forces. This island mindset acts as a catalyst for enhanced economic growth.
Originality/value – To the best of the authors' knowledge, the island factor is a new and untested hypothesis. Moreover, the paper contributes to the literature on cultural diversity and growth by showing that cultural diversity among neighboring countries is an important factor for economic development.
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