Cultural factors and economic development issues

How to include cultural variables in economic models ?

Abstract

The economy is inevitably linked to culture and history. Culture extends to traditions, history and social heritage. Taking culture into account as a significant variable in economic development is indeed a debate of particular importance within economics. Broadening the study of development factors is a perspective that aims to integrate cultural factors into economic development models. This work presents culture and heritage both as an economic input and a tool for attractiveness and influence. This makes it possible to put into practice the interactions that exist between cultural aspects and economic factors. The objective of the article is to reflect on the importance and the way of integrating the cultural aspects that promote economic development and which constitute a decisive element in any design of development model. This consists of questioning first the role of cultural factors in social progress, then their coexistence with economic rationality and their place in economic policy as invisible factors of development.