WORK VALUES AS A DETERMINANT FOR ECONOMIC GROWTH

Abstract

Aim of the Study: The findings in this study attempt to answer the question; Do work values predict economic growth? Methodology: World Values data was used to explore the aim of the study through multiple linear regression statistical analysis. Findings: The results indicate that work ethic does have a relatively evident relationship to economic growth and are significant predictors of GNI per capita and GDP per capita. These results indicated that work ethic changes as countries’ priorities change from having higher motivation to work in poorer economies to having lower motivation to work in wealthier economies. Managerial Implications: Leveraging the World Values Survey, this study shows that work priorities have shifted from working for material security/necessity in poorer economies to working for intrinsic needs in wealthier countries. This indicates an unusual non-generational shift in values indicating that employees can have large value shifts as wealth increases. Keywords: work ethics, work priorities, work values, economic growth, work motivation, priority shifting, GDP/GNI per capita JEL Classification: J11