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Social Capital, the Economy and Well-being

In: The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s

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Author Info

  • John Helliwell

    (Professor of Economics at the University of British Columbia)

Abstract

In this chapter, John Helliwell sets the scene for many of the papers that follow by providing an up-to-date and lucid survey of the literature on the impact of social capital on both the economy or economic performance and well-being. This latter term is closely related to the concept of social progress used in this volume. He begins by defining social capital as the networks and norms that facilitate cooperative activities within groups (bonding social capital) and between groups (bridging social capital). Helliwell documents a number of studies that show that social capital actually saves lives. He surveys the literature on subjective well-being, pointing out that unemployment lowers subjective well-being by more than the usual measure of economic cost and certainly more than inflation.

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Bibliographic Info

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This chapter was published in:
This item is provided by Centre for the Study of Living Standards & The Institutute for Research on Public Policy in its series The Review of Economic Performance and Social Progress with number v:1:y:2001:jh.

Handle: RePEc:sls:repsls:v:1:y:2001:jh

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Related research

Keywords: Well-being; Wellbeing; Well Being; Social Progress; Social; Societal; Society; Values; Index; Indexes; Indices; Indicator; Indicators; Social Capital; Happiness; Life Satisfaction; Subjective Well-being; Subjective;

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References

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  1. Martin Feldstein & Charles Horioka, 1979. "Domestic Savings and International Capital Flows," NBER Working Papers 0310, National Bureau of Economic Research, Inc.
  2. Maurice Obstfeld & Kenneth Rogoff & Ben Bernanke & Kenneth Rogoff, . "The Six Major Puzzles in International Macroeconomics: Is there a Common Cause?," Working Paper 32326, Harvard University OpenScholar.
  3. Jonathan Temple, 2000. "Growth Effects of Education and Social Capital in the OECD Countries," OECD Economics Department Working Papers 263, OECD Publishing.
  4. McCallum, John, 1995. "National Borders Matter: Canada-U.S. Regional Trade Patterns," American Economic Review, American Economic Association, vol. 85(3), pages 615-23, June.
  5. John F. Helliwell & Robert D. Putnam, 1995. "Economic Growth and Social Capital in Italy," Eastern Economic Journal, Eastern Economic Association, vol. 21(3), pages 295-307, Summer.
  6. Keith Head & Thierry Mayer, 2000. "Non-Europe: The magnitude and causes of market fragmentation in the EU," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 136(2), pages 284-314, June.
  7. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
  8. Charles Engel & John H. Rogers, 1994. "How Wide is the Border?," NBER Working Papers 4829, National Bureau of Economic Research, Inc.
  9. Bruno S. Frey & Alois Stutzer, . "Happiness, Economy and Institutions," IEW - Working Papers 015, Institute for Empirical Research in Economics - University of Zurich.
  10. John F. Helliwell, 1996. "Economic Growth and Social Capital in Asia," NBER Working Papers 5470, National Bureau of Economic Research, Inc.
  11. Oswald, Andrew J, 1997. "Happiness and Economic Performance," Economic Journal, Royal Economic Society, vol. 107(445), pages 1815-31, November.
  12. John F. Helliwell, 1996. "Do National Borders Matter for Quebec's Trade?," Canadian Journal of Economics, Canadian Economics Association, vol. 29(3), pages 507-22, August.
  13. Rose, Andrew, 1999. "One Money, One Market: Estimating the Effect of Common Currencies on Trade," Seminar Papers 678, Stockholm University, Institute for International Economic Studies.
  14. Alex Michalos, 1985. "Multiple discrepancies theory (MDT)," Social Indicators Research, Springer, vol. 16(4), pages 347-413, May.
  15. DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001. "Preferences over inflation and unemployment: Evidence from surveys of happiness," ZEI Working Papers B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
  16. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
  17. Glenn C. Loury, 1976. "A Dynamic Theory of Racial Income Differences," Discussion Papers 225, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  18. John F. Helliwell & Ross McKitrick, 1998. "Comparing Capital Mobility Across Provincial and National Borders," NBER Working Papers 6624, National Bureau of Economic Research, Inc.
  19. Jonathan Temple & Paul A. Johnson, 1998. "Social Capability And Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 965-990, August.
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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Gross National Happiness?
    by socialcapital in Social Capital Blog on 2012-04-11 19:19:49
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Cited by:
  1. Böhnke, Petra & Kohler, Ulrich, 2008. "Well-being and inequality," Discussion Papers, Research Unit: Inequality and Social Integration SP I 2008-201, Social Science Research Center Berlin (WZB).
  2. Cortés Aguilar Alexandra & Teresa Garcia-Muñoz & Ana I. Moro Egido, 2013. "Heterogeneous Self-employment and Subjective Well-Being. Evidence from Latin America," ThE Papers 13/05, Department of Economic Theory and Economic History of the University of Granada..
  3. Andrés Rodriguez-Pose & Viola von Berlepsch, 2012. "Social Capital and Individual Happiness in Europe," Bruges European Economic Research Papers 25, European Economic Studies Department, College of Europe.
  4. John F. Helliwell, 2002. "How's Life? Combining Individual and National Variables to Explain Subjective Well-Being," NBER Working Papers 9065, National Bureau of Economic Research, Inc.
  5. Geeta Kingdon & John Knight, 2004. "Community, Comparisons and Subjective Well-being in a Divided Society," Development and Comp Systems 0409067, EconWPA.
  6. BARTOLINI Stefano & BILANCINI Ennio & SARRACINO Francesco, 2010. "Predicting the Trend of Well-Being in Germany: How Much Do Comparisons, Adaptation and Sociability Matter?," CEPS/INSTEAD Working Paper Series 2010-07, CEPS/INSTEAD.
  7. Bjørnskov, Christian & Svendsen, Gert Tinggaard, 2003. "Measuring social capital – Is there a single underlying explanation?," Working Papers 03-5, University of Aarhus, Aarhus School of Business, Department of Economics.
  8. Giuseppina Guagnano & Elisabetta Santarelli & Isabella Santini, . "Subjective poverty in Europe: the role of household socioeconomic characteristics and social capital," Working Papers 113/13, Sapienza University of Rome, Metodi e modelli per l'economia, il territorio e la finanza MEMOTEF.
  9. Aguilar, Alexandra Cortés & García Muñoz, Teresa M. & Moro-Egido, Ana I., 2013. "Heterogeneous self-employment and satisfaction in Latin America," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 44-61.
  10. SARRACINO Francesco, 2011. "Money, sociability and happiness : are developed countries doomed to social erosion and unhappiness?," CEPS/INSTEAD Working Paper Series 2011-02, CEPS/INSTEAD.

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