Social Capital, Creative Destruction and Economic Development
AbstractThis paper develops a conceptual framework for the role of social capital in the political economy of innovation, growth and reform, with illustrations from developing and transition countries. It identifies separate but related roles for the individual and communal interpretations of social capital. It argues that economic growth via innovation requires the creative destruction of individual social capital linkages and discusses the roles of communal social capital and formal market institutions in the process. A negative externality associated with creative destruction implies the possibility of growth accelerations as well as growth traps.
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Bibliographic InfoPaper provided by University of Groningen, Research Institute SOM (Systems, Organisations and Management) in its series Research Report with number 05C09.
Date of creation: 2005
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-01-29 (All new papers)
- NEP-DEV-2006-01-29 (Development)
- NEP-ENT-2006-01-29 (Entrepreneurship)
- NEP-PKE-2006-01-29 (Post Keynesian Economics)
- NEP-SOC-2006-01-29 (Social Norms & Social Capital)
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