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Measurement of Social Capital and Growth: an Economic Methodology

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  • Pérez, Francisco
  • Fernandez de Guevara, Juan
  • Serrano, Lorenzo
  • Montesinos, Vicente

Abstract

This paper develops a measure of social capital based on economic relationships and analyzes its effects on growth. Investment in social capital is modeled by using the conceptual framework for measuring physical capital services. The measure of social capital depends on expectations of income, its investment cost, inequality in society, the density of trust networks, the size of the social network and the rate of depreciation of social capital. With this methodology a database is constructed for 23 OECD countries covering the period 1970-2001 and the positive effect of social capital on economic growth is tested.

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File URL: http://mpra.ub.uni-muenchen.de/16006/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16006.

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Date of creation: 2006
Date of revision: 2006
Handle: RePEc:pra:mprapa:16006

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Keywords: Social capital; Investment; Social networks; Economic Growth;

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References

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  1. Zak, Paul J & Knack, Stephen, 2001. "Trust and Growth," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 111(470), pages 295-321, April.
  2. Alesina, Alberto F & La Ferrara, Eliana, 2000. "Who Trusts Others?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2646, C.E.P.R. Discussion Papers.
  3. Robert J. Barro & Jong-Wha Lee, 2000. "International Data on Educational Attainment Updates and Implications," NBER Working Papers 7911, National Bureau of Economic Research, Inc.
  4. Mikael Lindahl & Alan B. Krueger, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 39(4), pages 1101-1136, December.
  5. Angel de la Fuente & Rafael Dom?ech, 2002. "Human capital in growth regressions: how much difference does data quality make? An update and further results," UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) 537.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  6. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, Elsevier, vol. 10(1), pages 122-142, July.
  7. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, American Economic Association, vol. 87(2), pages 333-38, May.
  8. Edward L. Glaeser & David I. Laibson & José A. Scheinkman & Christine L. Soutter, 2000. "Measuring Trust," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 115(3), pages 811-846, August.
    • Glaeser, Edward Ludwig & Laibson, David I. & Scheinkman, Jose A. & Soutter, Christine L., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.
  9. Durlauf,S.N., 2001. "On the empirics of social capital," Working papers, Wisconsin Madison - Social Systems 3, Wisconsin Madison - Social Systems.
  10. Cohen, Daniel & Soto, Marcelo, 2001. "Growth and Human Capital: Good Data, Good Results," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3025, C.E.P.R. Discussion Papers.
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  14. Sen, Amartya, 1997. "On Economic Inequality," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198292975, October.
  15. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  16. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  17. Edward L. Glaeser & David Laibson & Bruce Sacerdote, 2002. "An Economic Approach to Social Capital," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 112(483), pages 437-458, November.
  18. Fernando Vega Redondo, 2002. "Building Up Social Capital In A Changing World," Working Papers. Serie AD, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) 2002-26, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  19. Gradstein, Mark & Justman, Moshe, 2000. "Human capital, social capital, and public schooling," European Economic Review, Elsevier, Elsevier, vol. 44(4-6), pages 879-890, May.
  20. Andrea Bassanini & Stefano Scarpetta, 2001. "Does Human Capital Matter for Growth in OECD Countries?: Evidence from Pooled Mean-Group Estimates," OECD Economics Department Working Papers 282, OECD Publishing.
  21. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  22. Jonathan Temple & Paul A. Johnson, 1998. "Social Capability And Economic Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 113(3), pages 965-990, August.
  23. DiPasquale, Denise & Glaeser, Edward L., 1999. "Incentives and Social Capital: Are Homeowners Better Citizens?," Journal of Urban Economics, Elsevier, vol. 45(2), pages 354-384, March.
  24. Joel Sobel, 2002. "Can We Trust Social Capital?," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 40(1), pages 139-154, March.
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Cited by:
  1. Arribas Fernández Iván & Pérez García Francisco & Tortosa-Ausina Emili, 2007. "Measuring International Economic Integration: Theory and Evidence of Globalization," Working Papers, Fundacion BBVA / BBVA Foundation 201094, Fundacion BBVA / BBVA Foundation.

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