Effect of national cultural values on individual preferences of government debt. Notes: The figure shows the results of 18 separately estimated models estimating the relationship between a single cultural variable and a respondent's assessment of the priority of debt (DV(1) = 'debt is not a priority'), controlling for the country's credit rating. All variables are standardised (mean = 0, SD = 1). We report three basic model types: a simple LPM (green), an LPM including controls for GDP per capita, economic growth, respondents' education, and if they live in a rural or urban area (blue), and a multilevel LPM including country random effects (red). The dots indicate the estimated coefficient and the lines indicate the 95% confidence intervals. Schwartz models: N = 98,856. Falk models: N = 133,368. Hofstede models: N = 229,202. Note that because of the addition of controls, these models have fewer observations.

Contexts in source publication

Context 1

... present all three specifications to demonstrate the (in)consistency of our results. Figure 3 presents the results of 18 models, each estimating one of the debt-relevant cultural variables from Falk, Hofstede or Schwartz. Starting with Schwartz's hedonism, we find no evidence that those living in 'hedonistic' cultures are more likely to believe debt reduction is not a priority. ...

Context 2

... repeat the sequence of LPM models used in Figure 3; here, each measure of religion is regressed on debt preferences in separate models including first only credit rating, then additional controls, and finally with country random intercepts. The first set of models at the top of 4 shows that the number of people identifying as Catholic in a respondent's country has little bearing on their attitudes towards debt. ...