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A Dynamic Approach to the Relationship between Inequality, Social Capital and Institutions

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  • Diego Caramuta

    (CONICET & Universidad Nacional del Sur)

Abstract

One of the main objectives of this paper is to show the dynamics that relates inequality, social capital and institutions. The most important result is that these dynamics could generate multiple equilibria. Thus, we can identify two types of equilibria: one with a low level of social capital and high level of inequality, supported by institutions created endogenously by the community; and on the other hand, an equilibrium with a high level of social capital, low inequality and institutions that favor social equality. The analysis made in this paper can be seen as a contribution to the literature on why a society may attain high levels of institutional development and social integration.

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File URL: http://128.118.178.162/eps/dev/papers/0506/0506009.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0506009.

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Length: 20 pages
Date of creation: 29 Jun 2005
Date of revision:
Handle: RePEc:wpa:wuwpdc:0506009

Note: Type of Document - pdf; pages: 20
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Web page: http://128.118.178.162

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Keywords: Inequality; Social Capital; Institutional Arrangement;

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References

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  1. Durlauf,S.N. & Fafchamps,M., 2004. "Social capital," Working papers 12, Wisconsin Madison - Social Systems.
    • 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.
  2. Joel Sobel, 2002. "Can We Trust Social Capital?," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 139-154, March.
  3. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472 Elsevier.
  4. 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.
  5. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, vol. 68(5), pages 1181-1230, September.
  6. Alberto Alesina & Eliana La Ferrara, 2000. "Participation In Heterogeneous Communities," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 847-904, August.
  7. Charles F. Manski, 2000. "Economic Analysis of Social Interactions," NBER Working Papers 7580, National Bureau of Economic Research, Inc.
  8. Blume,L.E. & Durlauf,S.N., 2000. "The interactions-based approach to socioeconomic behavior," Working papers 1, Wisconsin Madison - Social Systems.
  9. Edward L. Glaeser & David Laibson & Bruce Sacerdote, 2000. "The Economic Approach to Social Capital," NBER Working Papers 7728, National Bureau of Economic Research, Inc.
  10. Durlauf,S.N., 1999. "The case "against" social capital," Working papers 29, Wisconsin Madison - Social Systems.
  11. Partha Dasgupta, 2005. "Economics of Social Capital," The Economic Record, The Economic Society of Australia, vol. 81(s1), pages S2-S21, 08.
  12. La Ferrara, Eliana & Alesina, Alberto, 2000. "Participation in Heterogeneous Communities," Scholarly Articles 4551796, Harvard University Department of Economics.
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