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Social Capital and Economic Development: Searching for Explanations

Author

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  • Torsvik, G.

Abstract

Social capital is a topical concept in economic development. The idea is that differential economic success can be explained in terms of differences in various social variables that are called social capital. My criticism is that this hypothesis, as it stands now, is too vague to help us understand and explain economic development. The variables that are included in social capital are not well defined, and it is not spelled out why and how these variables affect production.

Suggested Citation

  • Torsvik, G., 1999. "Social Capital and Economic Development: Searching for Explanations," Norway; Department of Economics, University of Bergen 1699, Department of Economics, University of Bergen.
  • Handle: RePEc:fth:bereco:1699
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    More about this item

    Keywords

    ECONOMIC DEVELOPMENT ; CAPITAL ; SOCIETY;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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