Groups and information disclosure: Evidence on the Olson and Putnam Hypotheses in Japan
AbstractThere is controversy between Putnam and Olson concerning the role of group. Putnam argued that small group makes a contribution to economic growth whereas Olson asserted that small group hampers the economic growth through rent-seeking behavior. Since the end of the 1990s in Japan, there has been a remarkable rise in the rate of enactment of public information-disclosure ordinances by local governments. This paper uses the panel data of Japan to compare the effects of Putnam-type horizontally structured groups and Olson-type vertically structured groups on government information disclosures. The Arellano-Bond type dynamic panel model is employed to control for unobserved fixed effects and endogeneity bias. The major findings are as follows: (1) the Putnam-type group has a positive influence on information disclosure; (2) the Olson-type group has a detrimental effect on information disclosure. These support not only Putnam hypothesis but also Olson Hypothesis. The characteristics of groups should be considered carefully when the influence of group is examined.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28101.
Date of creation: 08 Jan 2011
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Putnam; Olson; interest group; social capital; information-disclosure ordinance.;
Other versions of this item:
- Eiji Yamamura, 2012. "Groups and information disclosure: evidence on the Olson and Putnam hypotheses in Japan," International Journal of Social Economics, Emerald Group Publishing, Emerald Group Publishing, vol. 39(6), pages 423-439, May.
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
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