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Globalization and Economic Development: Impact of Social Capital and Institutional Building

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  • Ming Yu Cheng
  • Ron Mittelhammer

Abstract

Countries engaged actively in globalization have experienced phenomenal changes in economic, social, cultural, political, and technological progress. Some countries have benefited significantly from greater integration, while others have held globalization accountable for their economic failure and instability. Globalization introduces new political and social challenges. Benefiting from globalization requires complementary institutions and social development to deal with the changes and risks introduced by greater openness. This article examines whether globalization benefits economic development and how the developing countries could gain from globalization through their social capital and institutional building.

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  • Ming Yu Cheng & Ron Mittelhammer, 2008. "Globalization and Economic Development: Impact of Social Capital and Institutional Building," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(5), pages 859-888, November.
    • Handle: RePEc:bla:ajecsc:v:67:y:2008:i:5:p:859-888
    DOI: 10.1111/j.1536-7150.2008.00600.x
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    3. Muhammad Ahsan Ali Raza & Chen Yan & Hafiz Syed Mohsin Abbas & Sara Ilahi, 2024. "Do Remittance Inflows, Investment Attributes, and Regional Integration Accelerate Sustainable Economic Growth in Asia?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 1302-1317, March.
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    5. Dennis McCann, 2011. "The Principle of Gratuitousness: Opportunities and Challenges for Business in «Caritas in Veritate»," Journal of Business Ethics, Springer, vol. 100(1), pages 55-66, March.

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