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Valuation of Social Capital and Environmental Externalities

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Abstract

The transition from more traditional to modern modes of production has large implications for time allocation, accumulation of social capital, market and non-market production, consumption, as well as for the environmental externalities of production and consumption. In this paper we explicitly take into account the time allocation aspect in the formation of social capital. We analyze how time allocation, accumulation of social capital and production depend on the productivity in the transformation of time to social capital, productivity of social capital in the production of commodities and valuation of social capital. We find that a higher valuation of social capital does not necessarily lead to more leisure or other non-market activities, reduced consumption and potentially improved environment, the relationship is highly sensitive to the assumptions about accumulation of social capital.

Suggested Citation

  • Iulie Aslaksen & Kjell Arne Brekke, 2000. "Valuation of Social Capital and Environmental Externalities," Discussion Papers 277, Statistics Norway, Research Department.
  • Handle: RePEc:ssb:dispap:277
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    File URL: http://www.ssb.no/a/publikasjoner/pdf/DP/dp277.pdf
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    References listed on IDEAS

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    1. Paldam, Martin, 2000. " Social Capital: One or Many? Definition and Measurement," Journal of Economic Surveys, Wiley Blackwell, vol. 14(5), pages 629-653, December.
    2. Stephen Knack & Philip Keefer, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1251-1288.
    3. Robison, Lindon J. & Hanson, Steven D., 1995. "Social Capital And Economic Cooperation," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
    4. Apps, Patricia & Rees, Ray, 1999. "On the taxation of trade within and between households," Journal of Public Economics, Elsevier, pages 241-263.
    5. Apps, P.F. & Rees, R., 1996. "Collective Labor Supply and Household Production," Papers 301, Australian National University - Department of Economics.
    6. Allan Schmid, A. & Robison, Lindon J., 1995. "Applications of Social Capital Theory," Journal of Agricultural and Applied Economics, Cambridge University Press, pages 59-66.
    7. Weatherspoon, Dave D., 1995. "Industrialization And Sustainable Development, Are We Ready? Discussion," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
    8. Apps, Patricia F & Rees, Ray, 1997. "Collective Labor Supply and Household Production," Journal of Political Economy, University of Chicago Press, vol. 105(1), pages 178-190, February.
    9. Apps, P.F. & Rees, R., 1998. "On the Taxation of Trade Within and Between Households," Papers 337, Australian National University - Department of Economics.
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    More about this item

    Keywords

    Time allocation; Social capital; Environmental externalities;

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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