Javadova S.A., Ponkina E.S. Economic culture and historical character of the country's development

Abstract

Analysis of the relationships between culture and economic phenomena allows us to explore their joint influence on society and individual behavior, forming the unique historical experience of communities and states, which determines the relevance of theoretical research into aspects of the manifestations and impacts of these phenomena on society. The object of research is the economics of culture. The subject of the study is economic culture. The purpose of the study is a theoretical analysis of the concept of “economic culture” taking into account the historical experience and development of the country. It is revealed that cultural economics is a discipline in the field of economics that studies the relationship between culture and economic outcomes and culture in this context is defined as a set of common beliefs and preferences shared by social groups. Economic culture plays an important role in understanding the intersections between cultural, social and economic spheres. Cultural differences between countries have a negative impact on cross-border investments; the discrepancy between the cultural space of investors and a foreign culture reduces their inclination to place funds in the corresponding countries, a priori forming a negative historical experience, which leads to premiums for “differences” in investment expenses.