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THE IMPACT OF SOCIAL CAPITAL IN EXPLAINING ECONOMIC GROWTH DIFFERENCES: A COMPARATIVE ANALYSIS VIA TRUST LEVEL

Year 2017, ICMEB17 Özel Sayısı, 673 - 686, 01.12.2017

Abstract

Economic growth is an important matter for both developed and developing countries. According to new approaches to economic growth in recent years, economic growth is explained not only by tangible and economic factors, but also by social factors such as institutions, cultural differences and social capital. positive contributions to the economic growth of social capital–which is in general terms linked to trust, social norms and communication- have become a common idea among social scientists. In this context, this study examines the impact of trust level, which is one of the basic indicators of social capital on economic growth for the period 1980-2014 for 29 countries including 28 European Union countries and Turkey. The results of the study indicate that social capital is one of the important explanatory factors that affect economic growth positively

References

  • Acemoğlu, D. (2009). Introduction to modern economic growth. Princeton University: New Jersey.
  • Aghion, P. & P. Howitt (2009 (1998)). The economics of growth.The MIT Press: Cambridge.
  • Alesina A. & E. L. Ferrara (2000). The determinants of trust. NBER Working Paper, Sayı 7621.
  • Baliamoune-Lutz, M. (2005). Institutions, social capital, and economic development in Africa: An empirical study. International Center for Economic Research (ICER) Working Paper, Sayı 18.
  • Baliamoune-Lutz, M. (2011), Trust-based social capital, institutions, and development. The Journal of Socio- Economics, 40(4), 335-346.
  • Baltagi, B. H. (1995). Econometrics analysis of panel data. John Wiley & Sons: New Jersey.
  • Bankston, C. L. & M.Zhou (2002). Social capital as a process: The meanings and problems of a theoretical metaphor. Sociological Inquiry, 72, 285-317.
  • Barro, R. J. & X. Sala-i Martin (2004). Economic growth. MIT Press: Cambridge.
  • Bebbington, A. (2004). Social capital and development studies 1: Critique, debate, progress?. Progress in Development Studies, 4 (4), 343-349.
  • Beugelsdijk S. & T. V. Schaik (2005). Differences in social capital between 54 western european regions. Regional Studies, 39 (8), 1053-1064.
  • Boulila, G., L. Bousrih & M. Trabelsi (2008). Social capital and economic growth: Empirical investigations on the transmission channels. International Economic Journal, 22 (3) 399-417.
  • Christoforou, A. (2010). Social capital, economic growth and human development: An empirical investigation across European countries. Journal of Institutional Economics, 6 (2), 191-214.
  • Cingano, F.(2014). Trends in income and its impact on economic growth. OECD Social, Employment and Migration Working Papers, Sayı 163.
  • Coleman, J. (1988). Social capital in the creation of human capital. American Journal of Sociology, 94 (94), 95- 120.
  • Dasgupta, P. (2005). Economics of social capital. The Economic Record, 81 (255), 2-21.
  • Dearmon, J. & K. Grier (2009). Trust and development. Journal of Economic Behavior & Organization, 71, 210- 220.
  • Deliktaş, E. (2001). Malthusgil yaklaşımdan modern ekonomik büyümeye. Ege Ekonomik Bakış, 1 (1), 92-114.
  • Dinçer, O. & E. M. Uslaner (1999). Trust and growth. Public Choice, 142, 59–67.
  • Dinda, S (2014). Inclusive growth through creation of human and social capital. International Journal of Social Economics, 41 (10), 878 – 895.
  • Dominicis L., R. J. G. M. Florax & H. L. F. R. de Groot (2013). Regional clusters of ınnovative activity in Europe: Are social capital and geographical proximity key determinants?. Applied Economics, 45 (17), 2325-2335.
  • Durlauf, S. N. & M. Fafchamps (2004). Social capital. NBER Working Paper, Sayı 10485. Eurobarometer (2016). Erişim http://ec.europa.eu/COMMFrontOffice/publicopinion/index.cfm#p=1&yearFrom=1989&yearTo=2017. Tarihi: 14.03.2016
  • European Values Survey (2016). Erişim Tarihi: 02.04.2016. http://www.gesis.org/en/services/data- analysis/survey-data/rdc-international-survey-programs/european-values-study/.
  • Field, J. (2008). Sosyal sermaye. (Çev. B. Bilgen, B. Şen). İstanbul: İstanbul Bilgi Üniversitesi Yayınları.
  • Fukuyama, F. (1995). Trust: social virtues and the creation of prosperity. London: Hamish Hamilton.
  • Fukuyama, F. (1999). The great disruption: Human nature and the reconstitution of social order. London: Profile Books.
  • Fukuyama, F. (2000). Social capital, civil society and development. Third World Quarterly, 22 (1), 7-20.
  • Greene, W. H. (2003). Econometric analysis. New Jersey: Pearson Education Inc
  • Grootaert, C. (1997), The determinants of poverty in Côte d'Ivoire in the 1980s”, Journal of African Economics, 6 (2), 169-196.
  • Halpern, D. (2005). Social capital. Cambridge, United Kingdom: Polity Press.
  • Hausman, J. A. (1978), Specification tests in econometrics. Econometrica, 46 (6), 1251-1271.
  • Helliwell, J. F. (1996). Economic growth and social capital in Asia. NBER Working Paper, Sayı 5470, 1-21.
  • Knack, S. & P. Keefer (1997). Does social capital have an economic payoff? A cross-country investigation. The Quarterly Journal of Economics, 112 (4), 1251–1288. Leadbeater, C. (1997). https://books.google.com.tr/books The rise of social entrepreneur. Erişim Tarihi: 12.03.2014
  • Li, Y., X. Wung, H.Westlund & Y. Liu (2015). Physical capital, human capital and social capital: The changing roles in China’s economic growth. Growth and Change, 46 (1), 133-149.
  • Neira, I., E. Vazquez-Rozas & M.Portela (2008). An empirical analysis of social capital and economic growth in Europe (1980-200). Social Indicators Research, 92 (1), 111-129.
  • Onyx, J. & P. Bullen (2000). Measuring social capital in five communities. The Journal of Aslied Behavioral Science, 36, 23-42.
  • Palomino, J. P., A. F. Deltell ve E. Tortosa-Ausina (2013). Does social capital matter for European economic growth?. Universitat Jaume I Department of Economics Working Paper, Sayı 2013/02.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. CESifo Working Paper, Sayı 1229.
  • Pesaran, M. H.(2007). A simple panel unit root test in the presence of cross-section dependence, Journal of Applied Econometrics, 22 (2), 265-312.
  • Pesaran, M.H.L., V. Smith ve T.Yamagata (2013). Panel unit root tests in the presence of a multifactor error structure. Journal of Econometrics, 175 (2), 94-115.
  • Putnam, R. D. (1993). The prosperous community: social capital and public life. American Prospect, 13, 35-42.
  • Putnam, R. D., R. Leonardi ve R. Y. Nanetti (1993). Making democracy work: civic traditions in modern theory, Princeton: Princeton University Press.
  • Putnam, R. D. (1995). Tunning in, tunning out: the strange disappearance of social capital in America. PS: Political Science & Politics, 28 (4), 664-683.
  • Putnam, R.D. (2000). Bowling alone: the collapse and revival american community, New York: Simon & Schuster.
  • ReaHolloway, M. (2008). What’s the matter with social capital?: An ınductive examination, Proquest LLC.
  • Redondo, F. V. (2006). Building up social capital in changing world. Journal of Economic Dynamics and Control, 30, 2305-2338.
  • Robison, L. J., A. A. Schmid & M. E. Siles (2002). Is social capital really capital?. Review of Social Economy, 60 (1), 1-21.
  • Routledge, B. R. & J. Armsberg (2003). Social capital and growth. Journal of Monetary Economics, 50 (1), 167- 193.
  • Sabatini, F. (2006). The empirics of social capital and economic development: A critical perspective. FEEM Working Paper, Sayı 15, s. 1-35.
  • Sala-i Martin, X.(1990a). Lectures notes on economic growth (II): Five prototype models of endogeneous growth. NBER Working Paper, Sayı 3564.
  • Sala-i Martin, X. (1990b), Lectures notes on economic growth(I): Introduction to the literature and neoclassic models. NBER Economics Working Paper, Sayı 3563.
  • Schneider, G., T. Plümper & S. Baumann (2000). Bringing putnam to the European regions: on the relevance of social capital for economic growth. European Urban and Regional Studies, 7 (4), 307-317.
  • Tatoğlu Yerdelen, F. (2013a). Panel veri ekonometrisi: Stata uygulamalı. İstanbul: Beta Yayıncılık
  • Tatoğlu Yerdelen, F. (2013b). İleri panel veri analizi: Stata uygulamalı. İstanbul: Beta Yayıncılık.
  • Whiteley, P.F. (2000). Economic growth and social capital. Political Studies, 48, 443-466.
  • Woolcock, M. & D. Narayan (2000). Social capital: implications for development theory, research and policy. The World Bank Research Observer, 15 (2), 225-249.
  • World Values Survey (2014). WVS Longitudinal Multiple-Wave Documentation, Erişim Tarihi: 17.05.2016. http://www.worldvaluessurvey.org/.
  • Zak, P. J. & S. Knack (2001). Trust and Growth. Economic Journal Royal Economic Society, 111 (470), 295- 321.

EKONOMİK BÜYÜME FARKLILIKLARININ AÇIKLANMASINDA SOSYAL SERMAYENİN ETKİSİ: GÜVEN DÜZEYİ ÜZERİNDEN KARŞILAŞTIRMALI BİR ANALİZ

Year 2017, ICMEB17 Özel Sayısı, 673 - 686, 01.12.2017

Abstract

Ekonomik büyüme hem gelişmiş hem de gelişmekte olan ülkeler için oldukça önemli bir konudur. Son yıllarda ekonomik büyümeye getirilen yeni yaklaşımlara göre, ekonomik büyüme yalnızca maddi ve ekonomik unsurlarla değil; kurumlar, kültürel çeşitlilik ve sosyal sermaye gibi sosyal unsurlarla da açıklanabilmektedir. Genel olarak; güven, sosyal normlar ve iletişim kavramlarıyla bağlantılı bir kavram olan sosyal sermayenin ekonomik büyüme üzerindeki olumlu etkisi, son yıllarda yapılan çalışmalarda sosyal bilimcilerin hem fikir olduğu bir konu haline gelmiştir. Bu bağlamda çalışmada sosyal sermayenin temel göstergelerinden biri olan güven düzeyinin ekonomik büyüme üzerindeki etkisi araştırılmaktadır. Ekonomik büyüme ve sosyal sermaye arasındaki ilişki 1980-2014 dönemi için 28 AB üyesi ülke ve Türkiye olmak üzere 29 ülke düzeyinde incelenmektedir. Çalışmanın sonuçları sosyal sermayenin göstergelerinden biri olan güven düzeyinin ekonomik büyümeyi pozitif biçimde etkileyen önemli faktörlerden biri olduğunu göstermektedir

References

  • Acemoğlu, D. (2009). Introduction to modern economic growth. Princeton University: New Jersey.
  • Aghion, P. & P. Howitt (2009 (1998)). The economics of growth.The MIT Press: Cambridge.
  • Alesina A. & E. L. Ferrara (2000). The determinants of trust. NBER Working Paper, Sayı 7621.
  • Baliamoune-Lutz, M. (2005). Institutions, social capital, and economic development in Africa: An empirical study. International Center for Economic Research (ICER) Working Paper, Sayı 18.
  • Baliamoune-Lutz, M. (2011), Trust-based social capital, institutions, and development. The Journal of Socio- Economics, 40(4), 335-346.
  • Baltagi, B. H. (1995). Econometrics analysis of panel data. John Wiley & Sons: New Jersey.
  • Bankston, C. L. & M.Zhou (2002). Social capital as a process: The meanings and problems of a theoretical metaphor. Sociological Inquiry, 72, 285-317.
  • Barro, R. J. & X. Sala-i Martin (2004). Economic growth. MIT Press: Cambridge.
  • Bebbington, A. (2004). Social capital and development studies 1: Critique, debate, progress?. Progress in Development Studies, 4 (4), 343-349.
  • Beugelsdijk S. & T. V. Schaik (2005). Differences in social capital between 54 western european regions. Regional Studies, 39 (8), 1053-1064.
  • Boulila, G., L. Bousrih & M. Trabelsi (2008). Social capital and economic growth: Empirical investigations on the transmission channels. International Economic Journal, 22 (3) 399-417.
  • Christoforou, A. (2010). Social capital, economic growth and human development: An empirical investigation across European countries. Journal of Institutional Economics, 6 (2), 191-214.
  • Cingano, F.(2014). Trends in income and its impact on economic growth. OECD Social, Employment and Migration Working Papers, Sayı 163.
  • Coleman, J. (1988). Social capital in the creation of human capital. American Journal of Sociology, 94 (94), 95- 120.
  • Dasgupta, P. (2005). Economics of social capital. The Economic Record, 81 (255), 2-21.
  • Dearmon, J. & K. Grier (2009). Trust and development. Journal of Economic Behavior & Organization, 71, 210- 220.
  • Deliktaş, E. (2001). Malthusgil yaklaşımdan modern ekonomik büyümeye. Ege Ekonomik Bakış, 1 (1), 92-114.
  • Dinçer, O. & E. M. Uslaner (1999). Trust and growth. Public Choice, 142, 59–67.
  • Dinda, S (2014). Inclusive growth through creation of human and social capital. International Journal of Social Economics, 41 (10), 878 – 895.
  • Dominicis L., R. J. G. M. Florax & H. L. F. R. de Groot (2013). Regional clusters of ınnovative activity in Europe: Are social capital and geographical proximity key determinants?. Applied Economics, 45 (17), 2325-2335.
  • Durlauf, S. N. & M. Fafchamps (2004). Social capital. NBER Working Paper, Sayı 10485. Eurobarometer (2016). Erişim http://ec.europa.eu/COMMFrontOffice/publicopinion/index.cfm#p=1&yearFrom=1989&yearTo=2017. Tarihi: 14.03.2016
  • European Values Survey (2016). Erişim Tarihi: 02.04.2016. http://www.gesis.org/en/services/data- analysis/survey-data/rdc-international-survey-programs/european-values-study/.
  • Field, J. (2008). Sosyal sermaye. (Çev. B. Bilgen, B. Şen). İstanbul: İstanbul Bilgi Üniversitesi Yayınları.
  • Fukuyama, F. (1995). Trust: social virtues and the creation of prosperity. London: Hamish Hamilton.
  • Fukuyama, F. (1999). The great disruption: Human nature and the reconstitution of social order. London: Profile Books.
  • Fukuyama, F. (2000). Social capital, civil society and development. Third World Quarterly, 22 (1), 7-20.
  • Greene, W. H. (2003). Econometric analysis. New Jersey: Pearson Education Inc
  • Grootaert, C. (1997), The determinants of poverty in Côte d'Ivoire in the 1980s”, Journal of African Economics, 6 (2), 169-196.
  • Halpern, D. (2005). Social capital. Cambridge, United Kingdom: Polity Press.
  • Hausman, J. A. (1978), Specification tests in econometrics. Econometrica, 46 (6), 1251-1271.
  • Helliwell, J. F. (1996). Economic growth and social capital in Asia. NBER Working Paper, Sayı 5470, 1-21.
  • Knack, S. & P. Keefer (1997). Does social capital have an economic payoff? A cross-country investigation. The Quarterly Journal of Economics, 112 (4), 1251–1288. Leadbeater, C. (1997). https://books.google.com.tr/books The rise of social entrepreneur. Erişim Tarihi: 12.03.2014
  • Li, Y., X. Wung, H.Westlund & Y. Liu (2015). Physical capital, human capital and social capital: The changing roles in China’s economic growth. Growth and Change, 46 (1), 133-149.
  • Neira, I., E. Vazquez-Rozas & M.Portela (2008). An empirical analysis of social capital and economic growth in Europe (1980-200). Social Indicators Research, 92 (1), 111-129.
  • Onyx, J. & P. Bullen (2000). Measuring social capital in five communities. The Journal of Aslied Behavioral Science, 36, 23-42.
  • Palomino, J. P., A. F. Deltell ve E. Tortosa-Ausina (2013). Does social capital matter for European economic growth?. Universitat Jaume I Department of Economics Working Paper, Sayı 2013/02.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. CESifo Working Paper, Sayı 1229.
  • Pesaran, M. H.(2007). A simple panel unit root test in the presence of cross-section dependence, Journal of Applied Econometrics, 22 (2), 265-312.
  • Pesaran, M.H.L., V. Smith ve T.Yamagata (2013). Panel unit root tests in the presence of a multifactor error structure. Journal of Econometrics, 175 (2), 94-115.
  • Putnam, R. D. (1993). The prosperous community: social capital and public life. American Prospect, 13, 35-42.
  • Putnam, R. D., R. Leonardi ve R. Y. Nanetti (1993). Making democracy work: civic traditions in modern theory, Princeton: Princeton University Press.
  • Putnam, R. D. (1995). Tunning in, tunning out: the strange disappearance of social capital in America. PS: Political Science & Politics, 28 (4), 664-683.
  • Putnam, R.D. (2000). Bowling alone: the collapse and revival american community, New York: Simon & Schuster.
  • ReaHolloway, M. (2008). What’s the matter with social capital?: An ınductive examination, Proquest LLC.
  • Redondo, F. V. (2006). Building up social capital in changing world. Journal of Economic Dynamics and Control, 30, 2305-2338.
  • Robison, L. J., A. A. Schmid & M. E. Siles (2002). Is social capital really capital?. Review of Social Economy, 60 (1), 1-21.
  • Routledge, B. R. & J. Armsberg (2003). Social capital and growth. Journal of Monetary Economics, 50 (1), 167- 193.
  • Sabatini, F. (2006). The empirics of social capital and economic development: A critical perspective. FEEM Working Paper, Sayı 15, s. 1-35.
  • Sala-i Martin, X.(1990a). Lectures notes on economic growth (II): Five prototype models of endogeneous growth. NBER Working Paper, Sayı 3564.
  • Sala-i Martin, X. (1990b), Lectures notes on economic growth(I): Introduction to the literature and neoclassic models. NBER Economics Working Paper, Sayı 3563.
  • Schneider, G., T. Plümper & S. Baumann (2000). Bringing putnam to the European regions: on the relevance of social capital for economic growth. European Urban and Regional Studies, 7 (4), 307-317.
  • Tatoğlu Yerdelen, F. (2013a). Panel veri ekonometrisi: Stata uygulamalı. İstanbul: Beta Yayıncılık
  • Tatoğlu Yerdelen, F. (2013b). İleri panel veri analizi: Stata uygulamalı. İstanbul: Beta Yayıncılık.
  • Whiteley, P.F. (2000). Economic growth and social capital. Political Studies, 48, 443-466.
  • Woolcock, M. & D. Narayan (2000). Social capital: implications for development theory, research and policy. The World Bank Research Observer, 15 (2), 225-249.
  • World Values Survey (2014). WVS Longitudinal Multiple-Wave Documentation, Erişim Tarihi: 17.05.2016. http://www.worldvaluessurvey.org/.
  • Zak, P. J. & S. Knack (2001). Trust and Growth. Economic Journal Royal Economic Society, 111 (470), 295- 321.
There are 57 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Article
Authors

Hasan Vergil This is me

Bersu Bahtiyar This is me

Publication Date December 1, 2017
Submission Date October 17, 2017
Published in Issue Year 2017 ICMEB17 Özel Sayısı

Cite

APA Vergil, H., & Bahtiyar, B. (2017). EKONOMİK BÜYÜME FARKLILIKLARININ AÇIKLANMASINDA SOSYAL SERMAYENİN ETKİSİ: GÜVEN DÜZEYİ ÜZERİNDEN KARŞILAŞTIRMALI BİR ANALİZ. Uluslararası Yönetim İktisat Ve İşletme Dergisi, 13(13), 673-686.