Social Capital, Creative Destruction and Economic Growth
A distinction between individual and communal aspects of social capital is introduced, and their roles in production explored. Contacts are required to transact. contact formation and replacement are mediated by either market institutions or, less efficiently, by informal networks. Replacement of contacts is part of Schumpeterian creative destruction, leading to technological progress but with a negative externality. For output to increase, a "fundamental transformation" from informal to formal contact creation institutions is required. This may be blocked if political elite interests are threatened by the externality. Growth experiences in transition and developing countries are interpreted in this frameword.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Temple, Jonathan, 1998. "Initial Conditions, Social Capital and Growth in Africa," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 7(3), pages 309-347, October.
- Dirk Bezemer & Uwe Dulleck & Paul Frijters, 2003.
"Contacts, Social Capital and Market Institutions - A Theory of Development,"
Vienna Economics Papers
0311, University of Vienna, Department of Economics.
- Paul Frijters & Dirk Bezemer & Uwe Dulleck, 2005. "Contacts, Social Capital and Market Institutions - A Theory of Development," Paul Frijters Discussion Papers 2005-1, School of Economics and Finance, Queensland University of Technology.
- Samuel Bowles & Herbert Gintis, 2002.
"Social Capital and Community Governance,"
Royal Economic Society, vol. 112(483), pages 419-436, November.
- Durlauf,S.N., 2001.
"On the empirics of social capital,"
3, Wisconsin Madison - Social Systems.
- Paul Mosley & Marina Della Giusta, 1999. "A model of social capital and access to productive resources," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(7), pages 921-934.
- Xiaowen Tian, 1999. "Market Orientation and Regional Economic Disparities in China," Post-Communist Economies, Taylor & Francis Journals, vol. 11(2), pages 161-172.
- George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
- Edward L. Glaeser & David Laibson & Bruce Sacerdote, 2002. "An Economic Approach to Social Capital," Economic Journal, Royal Economic Society, vol. 112(483), pages 437-458, November.
- Larry H. P. Lang & Mara Faccio & Leslie Young, 2001. "Dividends and Expropriation," American Economic Review, American Economic Association, vol. 91(1), pages 54-78, March.
When requesting a correction, please mention this item's handle: RePEc:vie:viennp:0406. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paper Administrator)
If references are entirely missing, you can add them using this form.