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Most definitely political culture influences economic development. The two dominant political cultures in the U.S., democrat and republican influence whether investment will take place or not. Taxes and regulation culture will influence economic development one way or another.
Basically the connection between politics and economic development in any country in the world is connected to the size of the welfare state of any political party. The welfare state is how much government spending there is on health, policing, infrastructure, social security etc. The size of the welfare state and the governments influence on spending is one of the defining characteristics of any political party, it affects the balanc of power between the workers and business owners
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Political culture plays a crucial role in a country's economic decision. First of all, the ideology of the party will come in. For example, if the majority of the political party agrees that they should protect the poor, the tax on the poorer people will be lowered and the tax for richer people will be higher.
In addition, political culture can even hinder some type of goods from existing in a market (often rooting from religious roots - beef in Nepal for example)
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