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How Can the Decline in Social Capital be Reconciled with a Satisfactory Growth Performance?

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Author Info
Stefano Bartolini ()
Luigi Bonatti ()

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Abstract

We aim at reconciling Putnam’s claim that social capital has declined in the U.S. in the last decades with the satisfactory growth performance of the U.S. economy over the same period. This puzzle originates from the fact that most literature on social capital emphasizes its role in enhancing factor productivity (mainly by reducing transaction costs). We model the hypotheses that the expansion of market activities (increased “marketization”) weakens social capital formation, and that firms utilize more market services in response to the declining social capital. Within this framework, perpetual growth can be consistent with the progressive erosion of social capital.

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Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 477.

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Date of creation: Apr 2006
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Handle: RePEc:usi:wpaper:477

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Related research
Keywords: Endogenous growth externalities marketization social assets

Find related papers by JEL classification:
O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
Z13 - Other Special Topics - - Cultural Economics - - - Social Norms and Social Capital; Social Networks Economic Anthropology

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  1. repec:att:wimass:1920412 is not listed on IDEAS
  2. Jane Kolodinsky & Garret Kimberly & Jonathan Isham, 2003. "The Effects of Volunteering for Non-profit Organizations on Social Capital Formation: Evidence from a Statewide Survey," Middlebury College Working Paper Series 0305, Middlebury College, Department of Economics. [Downloadable!]
  3. Zak, Paul J & Knack, Stephen, 2001. "Trust and Growth," Economic Journal, Royal Economic Society, vol. 111(470), pages 295-321, April. [Downloadable!] (restricted)
  4. Steven Durlauf & Marcel Fafchamps, 2004. "Social Capital," Development and Comp Systems 0409060, EconWPA. [Downloadable!]
    Other versions:
    • Steven N. Durlauf & Marcel Fafchamps, 2004. "Social Capital," NBER Working Papers 10485, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    • Durlauf, Steven N. & Fafchamps, Marcel, 2005. "Social Capital," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 26, pages 1639-1699 Elsevier. [Downloadable!] (restricted)
  5. Steven N. Durlauf, 2002. "On the Empirics of Social Capital," Economic Journal, Royal Economic Society, vol. 112(483), pages 459-479, November. [Downloadable!] (restricted)
  6. Jayadev, Arjun & Bowles, Samuel, 2006. "Guard labor," Journal of Development Economics, Elsevier, vol. 79(2), pages 328-348, April. [Downloadable!] (restricted)
  7. Annen, Kurt, 2003. "Social capital, inclusive networks, and economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 50(4), pages 449-463, April. [Downloadable!] (restricted)
  8. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-38, May. [Downloadable!] (restricted)
    Other versions:
  9. Edward Miguel & Paul Gertler & David Levine, 2004. "Did Industrialization Destroy Social Capital in Indonesia?," Development and Comp Systems 0407006, EconWPA. [Downloadable!]
    Other versions:
  10. Richard B. Freeman & Ronald Schettkat, 2005. "Marketization of household production and the EU-US gap in work," Economic Policy, CEPR, CES, MSH, vol. 20(41), pages 6-50, 01. [Downloadable!] (restricted)
  11. Samuel Bowles & Herbert Gintis, 2001. "Social Capital and Community Governance," Working Papers 01-01-003, Santa Fe Institute.
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  12. Sjoerd Beugelsdijk & Henri L.F. de Groot & Anton B.T.M. van Schaik, 2004. "Trust and economic growth: a robustness analysis," Oxford Economic Papers, Oxford University Press, vol. 56(1), pages 118-134, January.
  13. Knack, Stephen, 2003. " Groups, Growth and Trust: Cross-Country Evidence on the Olson and Putnam Hypotheses," Public Choice, Springer, vol. 117(3-4), pages 341-55, December. [Downloadable!] (restricted)
  14. Weitzman, Martin L, 1976. "On the Welfare Significance of National Product in a Dynamic Economy," The Quarterly Journal of Economics, MIT Press, vol. 90(1), pages 156-62, February. [Downloadable!] (restricted)
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  15. Routledge, Bryan R. & von Amsberg, Joachim, 2003. "Social capital and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 167-193, January. [Downloadable!] (restricted)
  16. Beugelsdijk, Sjoerd & van Schaik, Ton, 2005. "Social capital and growth in European regions: an empirical test," European Journal of Political Economy, Elsevier, vol. 21(2), pages 301-324, June. [Downloadable!] (restricted)
  17. Durlauf, Steven N., 2002. "Bowling Alone: a review essay," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 259-273, March. [Downloadable!] (restricted)
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