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Interdependence Between Social Values and National Performance Indicators: The Case of the Enlarged European Union

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  • Cene Bavec

    (University of Primorska, Slovenia)

Abstract

Based on the desk research, the paper provides an empirical insight into correlations between some social values and five selected economic performance indicators for 20 European Union countries. We concentrated on Composite Trust. This is a one-dimensional representation of citizens’ trust on national level and is calculated from three different types of trust that van Oorschot and Arts (2005) derived from the European Values Study (2001). We confirmed correlations between trust and economic performance, but we have also noticed a very different pattern for the old and the new EU member states. The old EU member states show a positive correlation, on the other hand there is no such correlation for the new member states. A plausible hypothesis is that the same level of Composite Trust causes different effects in different societies and economies. We could also assume that social structures in the new EU member states are still distorted and are not in the equilibrium which characterizes EU countries with long democratic and market economy traditions. Economic performance in the new EU member states is based mainly on economic and not on social incentives. On the other hand, correlation between trust and innovativeness is strong in all studied countries. It confirms many studies which see trust as a fundamental social enabler and stimulator for innovativeness.

Suggested Citation

  • Cene Bavec, 2007. "Interdependence Between Social Values and National Performance Indicators: The Case of the Enlarged European Union," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 5(3), pages 213-228.
    • Handle: RePEc:mgt:youmgt:v:5:y:2007:i:3:p:213-228
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    References listed on IDEAS

    as
    1. Patrick Francois & Jan Zabojnik, 2005. "Trust, Social Capital, and Economic Development," Journal of the European Economic Association, MIT Press, vol. 3(1), pages 51-94, March.
    2. van Schaik, A.B.T.M., 2002. "Social Capital in the European Values Study Surveys," Other publications TiSEM 8f6d6524-bf37-46ab-8245-d, Tilburg University, School of Economics and Management.
    3. Gaute Torsvik, 2000. "Social Capital And Economic Development," Rationality and Society, , vol. 12(4), pages 451-476, November.
    4. Fabio Sabatini, 2006. "The Empirics of Social Capital and Economic Development: A Critical Perspective," Working Papers 2006.15, Fondazione Eni Enrico Mattei.
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    Cited by:

    1. Cene Bavec, 2009. "On the creative climate and innovativeness at the country level," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 27(1), pages 9-30.
    2. Zlatka Mesko Stok & Mirko Markic & Andrej Bertoncelj & Maja Mesko, 2010. "Elements of organizational culture leading to business excellence," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 28(2), pages 303-318.
    3. Khosrowjerdi, Mahmood & Bornmann, Lutz, 2021. "Is culture related to strong science? An empirical investigation," Journal of Informetrics, Elsevier, vol. 15(4).
    4. Herciu, Mihaela & Ogrean, Claudia, 2011. "A Model for Measuring the National Global Performance and Analyzing its Determinants – The Case of Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 163-177, December.
    5. Cene Bavec, 2012. "Social Responsibility and Professional Ethics in Management: Some Empirical Evidences at Country Levels," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 10(4 (Winter), pages 361-377.

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    More about this item

    Keywords

    trust; composite trust; social capital; social values; economic performance; innovativeness; European Union; new EU member states;
    All these keywords.

    JEL classification:

    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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