Akademik Veri Yönetim Sistemi
International Journal of Insurance and Finance , cilt.5, sa.1, ss.59-80, 2025 (Hakemli Dergi)
Abstract This paper investigates the impact of cultural factors on inflation and the moderating role of migration through microeconomic theories. The study aims to examine how cultural economic behaviors affect inflation dynamics using data from 66 countries between 2004 and 2023, based on Hofstede’s cultural dimensions. The analysis incorporates Hofstede’s subcontinental classification, World Bank inflation data, and migration rates. Cardinal utility theory explains consumer preference systems linked to cultural values and purchasing decisions. Theories of risk and uncertainty are explored in terms of the influence of uncertainty avoidance on inflation expectations and economic decision-making. Additionally, the bandwagon effect is considered, examining consumer adaptation to cultural norms and their economic outcomes. New institutional economics evaluates the role of migration in shaping consumer preferences and altering market dynamics. Empirical findings from Structural Equation Modeling (SEM) using AMOS 24 reveal that masculine cultures are associated with higher inflation rates, while migration plays a significant negative moderating role in this relationship. Similarly, the interaction between migration and the uncertainty avoidance culture significantly moderates the impact of uncertainty avoidance on inflation in a negative direction. The results highlight the importance for policymakers to effectively integrate cultural economic factors and migration in their strategies and offer new perspectives on related microeconomic theories.