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Social Capital, Investment and Economic Growth: Some Evidence for Spanish Provinces

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  • Jesús Peir�-Palomino
  • Emili Tortosa-Ausina

Abstract

This article analyses the impact of social capital on regional economic growth in Spain during the 1985-2005 period. The literature in this context is virtually nonexistent and, in addition, whereas most studies, regardless of their context, have used survey data in order to measure social capital, we use a measure whose construction is based on similar criteria to other measures of capital stock. Compared with more standard measures of social capital and trust, our measure is available with a high level of disaggregation, and with annual frequency for a long time period. Following a panel data approach, our findings indicate that social capital has a positive impact on GDP per capita growth in the context of Spanish provinces, implying that 'social features' are important for explaining the differences in wealth that one might find across Spanish provinces. We also explore the transmission mechanisms from social capital to growth, finding a highly positive relation between social capital and private physical investment.

Suggested Citation

  • Jesús Peir�-Palomino & Emili Tortosa-Ausina, 2015. "Social Capital, Investment and Economic Growth: Some Evidence for Spanish Provinces," Spatial Economic Analysis, Taylor & Francis Journals, vol. 10(1), pages 102-126, March.
    • Handle: RePEc:taf:specan:v:10:y:2015:i:1:p:102-126
    DOI: 10.1080/17421772.2014.899387
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    Citations

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    Cited by:

    1. Giorgio Calcagnini & Germana Giombini & Francesco Perugini, 2016. "Bank Foundations, Social Capital, and the Growth of Italian Provinces," Mo.Fi.R. Working Papers 131, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    2. Roberto Antonietti & Ron Boschma, 2021. "Social capital, resilience, and regional diversification in Italy [Social capital, innovation and growth: evidence from Europe]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(3), pages 762-777.
    3. İ. Semih Akçomak & Hanna Müller-Zick, 2018. "Trust and inventive activity in Europe: causal, spatial and nonlinear forces," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(3), pages 529-568, May.
    4. Andrés Rodríguez‐Pose, 2020. "Institutions and the fortunes of territories," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(3), pages 371-386, June.
    5. Harrison, Jane L. & Montgomery, Claire A. & Jeanty, P. Wilner, 2019. "A spatial, simultaneous model of social capital and poverty," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 78(C), pages 183-192.
    6. José Manuel Pastor & Jose M. Pavía & Lorenzo Serrano & Emili Tortosa-Ausina, 2017. "Rich regions, poor regions and bank branch deregulation in Spain," Regional Studies, Taylor & Francis Journals, vol. 51(11), pages 1678-1694, November.
    7. Guo, Wen & Yang, Bo & Ji, Jiong & Liu, Xiaorui, 2023. "Abundance of natural resources, government scale and green economic growth: An empirical study on urban resource curse," Resources Policy, Elsevier, vol. 87(PA).
    8. Jesús Peiró-Palomino, 2016. "European regional convergence revisited: the role of intangible assets," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 57(1), pages 165-194, July.
    9. Pilatin Abdulmuttalip & Hacıimamoğlu Tunahan, 2023. "The relationship between social capital and economic growth on a provincial and regional basis," Economics and Business Review, Sciendo, vol. 9(3), pages 153-180, October.
    10. James B. Ang, 2019. "Culture, Legal Origins, And Financial Development," Economic Inquiry, Western Economic Association International, vol. 57(2), pages 1016-1037, April.
    11. Jesús Peiró-Palomino & Andrés J. Picazo-Tadeo, 2019. "Is Social Capital Green? Cultural Features and Environmental Performance in the European Union," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(3), pages 795-822, March.
    12. Sarracino, Francesco & Slater, Giulia, 2024. "The trust paradox," MPRA Paper 120053, University Library of Munich, Germany.
    13. Orlowski, Johannes & Wicker, Pamela, 2015. "The monetary value of social capital," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 57(C), pages 26-36.
    14. Bakari, Sayef, 2024. "Causality between Domestic Investment and Economic Growth: New Evidence from Argentina," MPRA Paper 121799, University Library of Munich, Germany.

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