Growth Strategy with Social Capital and Physical Capital- Theory and Evidence: the Case of Vietnam
We study the impact of social capital in both simple theoretical and em- pirical model with the main assumption is the price of physical capital is a decreasing function of social capital. In our theoretical model, there exists a critical value such that ffrm will not invest in social capital if its saving is lower than the critical value and otherwise. Moreover, the output depends positively and non-linearly on the social capital. Our empirical model that captures the impact of physical capital, human capital, and social capital using the database from Survey of Small and Medium Scale Manufactur- ing Enterprises (SMEs) in Vietnam 2011, conffrms the conclusions of the theoretical model.
|Date of creation:||25 Feb 2014|
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