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Endogenous growth, decline in social capital and expansion of market activities

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Author Info
Bartolini, Stefano
Bonatti, Luigi

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Abstract

We model in an endogenous growth set-up the hypotheses that the expansion of market activities weakens social capital formation, and that firms can invest in formal mechanisms of control and enforcement to substitute for social capital (trust, work ethics, honesty). The model shows that the economy tends to grow faster when it is relatively poorer in social capital and that perpetual growth can be consistent with the progressive erosion of social capital. These results may help reconciling Putnam’s claim that social capital has declined in the U.S. with the satisfactory growth performance of the U.S. economy over the same period.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 3341.

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Date of creation: May 2007
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Handle: RePEc:pra:mprapa:3341

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Related research
Keywords: Generalized trust; externalities; marketization; social assets;

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Find related papers by JEL classification:
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
Z13 - Other Special Topics - - Cultural Economics - - - Social Norms and Social Capital; Social Networks Economic Anthropology

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References listed on IDEAS
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  1. repec:att:wimass:1920412 is not listed on IDEAS
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  4. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-38, May. [Downloadable!] (restricted)
    Other versions:
  5. Samuel Bowles & Herbert Gintis, 2002. "Social Capital and Community Governance," Economic Journal, Royal Economic Society, vol. 112(483), pages 419-436, November. [Downloadable!] (restricted)
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  6. Steven N. Durlauf & Marcel Fafchamps, 2004. "Social Capital," NBER Working Papers 10485, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  7. Routledge, Bryan R. & von Amsberg, Joachim, 2003. "Social capital and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 167-193, January. [Downloadable!] (restricted)
  8. Miguel, Edward & Gertler, Paul & Levine, David I, 2006. "Does Industrialization Build or Destroy Social Networks?," Economic Development and Cultural Change, University of Chicago Press, vol. 54(2), pages 287-317, January.
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    Other versions:
  12. Yuan K. Chou, 2002. "Modelling Social Capital And Growth," Department of Economics - Working Papers Series 865, The University of Melbourne. [Downloadable!]
  13. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
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  18. Beugelsdijk, Sjoerd & van Schaik, Ton, 2005. "Social capital and growth in European regions: an empirical test," European Journal of Political Economy, Elsevier, vol. 21(2), pages 301-324, June. [Downloadable!] (restricted)
  19. Durlauf, Steven N., 2002. "Bowling Alone: a review essay," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 259-273, March. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Angelo Antoci & Fabio Sabatini & Mauro Sodini, 2009. "The fragility of social capital," Department of Economics University of Siena 551, Department of Economics, University of Siena. [Downloadable!]
    Other versions:
  2. Catarina Roseta-Palma & Alexandra Ferreira-Lopes & Tiago Neves Sequeira, 2008. "Towards an Inclusive Model of Sustainable Growth," Working Papers ercwp0408, ISCTE, UNIDE, Economics Research Centre. [Downloadable!]
  3. Tiago Neves Sequeira & Alexandra Ferreira-Lopes, 2008. "An Endogenous Growth Model with Human and Social Capital Interactions," Working Papers ercwp0908, ISCTE, UNIDE, Economics Research Centre. [Downloadable!]
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