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

Author

Listed:
  • Tortosa-Ausina Emili

    (INSTITUTO VALENCIANO DE INVESTIGACIONES ECONÓMICAS (Ivie) UNIVERSITY JAUME I)

  • Peiró Palomino Jesús

    (Universidad Jaime I)

Abstract

This working paper analyzes the impact of social capital on 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. In addition, compared with more standard measures of social capital and trust, the measure we use 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 observable across Spanish provinces. Following some recent contributions, 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

  • Tortosa-Ausina Emili & Peiró Palomino Jesús, 2012. "Social Capital, Investment and Economic Growth: Evidence for Spanish Provinces," Working Papers 2012122, Fundacion BBVA / BBVA Foundation.
    • Handle: RePEc:fbb:wpaper:2012122
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      by UDADISI in UDADISI on 2013-06-13 23:10:00

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    Cited by:

    1. Anna D’Ambrosio & Sandro Montresor & Mario Davide Parrilli & Francesco Quatraro, 2019. "Migration, communities on the move and international innovation networks: an empirical analysis of Spanish regions," Regional Studies, Taylor & Francis Journals, vol. 53(1), pages 6-16, January.
    2. Xindong Xue & W. Robert Reed & Robbie C.M. van Aert, 2022. "Social Capital and Economic Growth: A Meta-Analysis," Working Papers in Economics 22/20, University of Canterbury, Department of Economics and Finance.
    3. Jesús Peiró-Palomino, 2016. "Social Capital and Economic Growth in Europe: Nonlinear Trends and Heterogeneous Regional Effects," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(5), pages 717-751, October.
    4. Balli Faruk & Pierucci Eleonora, 2020. "Risk Sharing and Institutional Quality: Evidence from OECD and Emerging Economies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(1), pages 53-71, February.

    More about this item

    Keywords

    Growth; physical capital investment; province; social capital;
    All these keywords.

    JEL classification:

    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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