In this paper we present a model of economic growth where agents are characterized by social status concern behaviour. With respect to the literature, we show that social status seeking is not always desirable for economic growth. Specially, we prove that the impact of status seeking on growth...

We integrate a general social norm function which associates status to accumulation of capital and consumption into a very simple model of endogenous growth. We show that societies which place a greater cultural weight on capital as opposed to consumption preferences will experience fast growth....

We integrate a general social norm function which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight on capital as opposed to consumption will experience fast growth.Our results are consistent...