Does Social Capital Have an Economic Payoff? A Cross-Country Investigation
This paper presents evidence that 'social capital' matters for measurable economic performance, using indicators of trust and civic norms from the World Values Survey for a sample of twenty-nine market economies. Membership in formal groups--Putnam's measure of social capital--is not associated with trust or with improved economic performance. The authors find trust and civic norms are stronger in nations with higher and more equal incomes, with institutions that restrain predatory actions of chief executives, and with better-educated and ethnically homogeneous populations. Copyright 1997, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.
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Volume (Year): 112 (1997)
Issue (Month): 4 (November)
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