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An Analysis of Social Capital Reduction in Banking Industry and its Impact on GDP

Author

Listed:
  • Mobaraki Fakhrodin , Mir Shams

    (Refah Bank)

  • Khajavi , Ardavan

    (University of Tehran
    Refah Bank)

  • Seyyedjavadein , Seyyedreza

    (University of Tehran)

Abstract

Social capital is a relatively new concept in the social sciences and is one of the most important challenges of new era in a way that based on experts' comments, the solution for all the problems of today's modern world is social capital. To this end, one of the problems that managers of organizations particularly; service and manufacturing organizations have faced with today is lack of trust in accurate implementation of contract specifically implied contracts. If managers tend to control the whole organization for the accurate implementation of these contracts, it would lead to extravagant costs. One proper and certain way to solve this problem is to apply elements and components of social capital in organizations. By deploying scientists' thoughts regarding social capital, the present research attempts to analyze the evidence of social capital reduction in banking industry and test its impact along with other forms of capital on GDP of the country. Findings of this study indicate that there is a significant and reverse relation between social capital reduction in banking industry and GDP.

Suggested Citation

  • Mobaraki Fakhrodin , Mir Shams & Khajavi , Ardavan & Seyyedjavadein , Seyyedreza, 2014. "An Analysis of Social Capital Reduction in Banking Industry and its Impact on GDP," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(4), pages 127-144, July.
    • Handle: RePEc:mbr:jmonec:v:9:y:2014:i:4:p:127-144
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    More about this item

    Keywords

    Social capital; GDP; Uncertainty; Banking;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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