VOL. 7, NO. 2, PGS. 11–19


Culture and Institutions, Both are Important for the Economy
A conversation with Thierry Verdier

This interview was conducted by Javier Toro.

Thierry Verdier is Professor of Economics at the Paris School of Economics and the Pontifical Catholic University of Rio de Janeiro.

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Culture or institutions: which is more important for economic performance?

I think both are important for economic development. There has been a long debate among economists about which is more important, culture or institutions, how to distinguish one from the other and what their joint and separate effects are. The book by Acemoglu and Robinson, Why Nations Fail, underlines the [...]

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