Finding the Origin of Growth - Malthus Trap Trap, Path Dependence or Hofstede Value Chain?

Abstract

By studying the hypotheses of the decisive role of formal and informal institutions (socio-cultural) in development, the paper concludes that human capital is a prerequisite for Lime technological advances, while institutional arrangements are a precondition for the development of human capital. Thus, institutions are the most important factor of development; To reform the institutional environment, it is necessary to change the value system of a people.