Individualism and Inflation

Fahim Al Marhubi*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


This paper examines the relationship between the individualism-collectivism dimension of culture and inflation for 100 countries from 1972 to 2011. The results indicate that individualism has a strong causal negative effect on inflation.Individualism also strengthens the effectiveness of central bank independence in promoting low inflation. These findings are robust to estimation methods, sample composition, measures of individualism and inclusion of controls

Original languageEnglish
Pages (from-to)2495-2507
Number of pages13
JournalEconomics Bulletin
Issue number4
Publication statusPublished - 2021

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)


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