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Corporate Social Responsibility and Economic Growth/Responsabilidad social corporativa y crecimiento económico

Author

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  • NAVARRO ESPIGARES, JOSÉ LUIS

    () (Departamento de Economía Aplicada Universidad de Granada y Hospital Universitario Virgen de las Nieves.)

  • GONZÁLEZ LÓPEZ, JOSÉ MANUEL

    () (Fundación Virgen de las Nieves.)

Abstract

The economic impact of social responsibility can be translated into direct and indirect effects for companies that practice it. Moreover, from a macroeconomic point of view it can be assumed that a critical number of responsible companies in an economy would transform it into a focus of attraction for production factors and other resources. To explore the robustness of this hypothesis, we analyse, in this work, the association among certain CSR indicators and the evolution of some variables related to economic growth in the OECD countries. The results obtained do not warrant CSR being considered a determinant factor for economic growth, but they reveal a positive association between CSR indicators of and those of economic growth in the OECD countries. This connection is especially remarkable in the cases of competitiveness and price stability indicators. The statistical association is even more apparent in the European Union, where sustainability indexes also show a positive evolution, superior to that of the general indexes. Therefore, in accordance with our results, we can observe that the phenomenon of CSR is a practice which is empirically compatible with competitiveness, one of the key objectives in the Lisbon Agenda. La incidencia económica de la responsabilidad social puede traducirse en efectos directos e indirectos para las empresas que la practican. No obstante, desde un punto de vista macroeconómico también cabe suponer que una determinada masa crítica de empresas responsables en una economía, conviertan a ésta en un foco de atracción de factores y recursos productivos. Para explorar la consistencia de esta hipótesis, en este trabajo, estudiamos, en el ámbito de la OCDE, la asociación entre algunos indicadores de la RSC y una serie de variables relacionadas con el crecimiento económico. Los resultados obtenidos no permiten hablar de la RSC como un factor determinante del crecimiento económico, sin embargo revelan una asociación positiva entre los indicadores de RSC y los de crecimiento económico en la OCDE. Dicha asociación, especialmente clara en los indicadores de competitividad y estabilidad de precios, se ve fortalecida en el ámbito de la Unión Europea. También cabe señalar un comportamiento favorable de los índices bursátiles de sostenibilidad en la región europea, superior al mostrado por los índices de carácter general. En conclusión, los resultados alcanzados permiten observar el fenómeno de la RSC como una práctica empíricamente compatible con uno de los objetivos clave en la Estrategia de Lisboa, la competitividad.

Suggested Citation

  • Navarro Espigares, José Luis & González López, José Manuel, 2006. "Corporate Social Responsibility and Economic Growth/Responsabilidad social corporativa y crecimiento económico," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 24, pages 637(27á)-63, Agosto.
  • Handle: RePEc:lrk:eeaart:24_2_17
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    References listed on IDEAS

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    1. Marian Murphy, 2002. "Organisational Change and Firm Performance," OECD Science, Technology and Industry Working Papers 2002/14, OECD Publishing.
    2. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    3. Pulido San Román, A., 2003. "Desarrollo sostenible: un reto central para el pensamiento económico," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 21, pages 203-220, Agosto.
    4. Summers, Robert & Heston, Alan, 1988. "A New Set of International Comparisons of Real Product and Price Levels Estimates for 130 Countries, 1950-1985," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 34(1), pages 1-25, March.
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    More about this item

    Keywords

    Sustainable Development; Corporate Social Responsibility; Competitiveness; Economic Growth/Desarrollo sostenible; Responsabilidad social corporativa; Competitividad; Crecimiento económico.;

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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