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IMPACT OF SOCIAL CAPITAL ON ECONOMIC GROWTH: A META-ANALYSIS / Sosyal Sermayenin Ekonomik Büyüme Üzerindeki Etkisi: Bir Meta-Analiz

Year 2022, Volume: 6 Issue: 2, 216 - 235, 10.10.2022
https://doi.org/10.29216/ueip.1132292

Abstract

Bu çalışmanın amacı, sosyal sermayenin ekonomik ve finansal büyümeye etkisi üzerine yapılan çalışmaları meta-analiz yöntemiyle sentezlemektir. Sosyal sermaye bireyleri, işletmeleri, bankaları ve bu sayılanların iş yapma biçimlerini dolayısıyla ticareti etkileyerek ekonomik gelişmeye etkide bulunmaktadır. Sosyal sermaye düzeyi bireylerin ticaret yapma, kredi kullanma, borcunu geri ödeme, kurallara uyma, sözünü tutma gibi birçok değişkeni etkilemektedir. Bu konuyu ele alan çalışmaların nicel bulgularını bir arada yorumlayabilmek için akademik veri tabanlarında 2007-2021 yılları arasında yapılan çalışmalar taranmıştır. Belirlenen kriterlere uygun olan toplam 3458 gözleme sahip 36 çalışmadan oluşan bulgular meta-analiz yöntemi ile sentezlenmiştir. Örneklem büyüklüğü, standart hata ve etki değerlerini içeren 36 farklı çalışmanın araştırma bulguları CMA (Comprehensive Meta-Analysis) programı yardımıyla analiz edilmiştir. Meta-analiz sonucunda etki büyüklüğü orta düzeyde bulunmuştur (Fisher Z=0.380). Meta-analiz sonuçlarına göre H1 kabul edilmiş ve ülkelerin sosyal sermaye düzeylerinin ekonomik büyümeyi orta düzeyde etkilediği ortaya çıkmıştır. Sosyal sermayeyi ölçmek için bu genel bulgunun literatür açısından oldukça değerli olduğu ve önemli katkı sağlayacağı düşünülmektedir.

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IMPACT OF SOCIAL CAPITAL ON ECONOMIC GROWTH: A META-ANALYSIS / Sosyal Sermayenin Ekonomik Büyüme Üzerindeki Etkisi: Bir Meta-Analiz

Year 2022, Volume: 6 Issue: 2, 216 - 235, 10.10.2022
https://doi.org/10.29216/ueip.1132292

Abstract

The aim of this study is to synthesize the studies on the effect of social capital on economic and financial growth with the method of meta-analysis. Social capital has an impact on economic development by influencing individuals, businesses, banks and the way they do business, and thus trade. In this study, the studies carried out in the years 2007-2021 are discussed. In order to be able to interpret the quantitative findings of the studies that have dealt with this subject together, studies made on academic databases were scanned, and the findings consisting of 36 studies meeting the determined criteria and having a total of 3458 observations were synthesized through the meta-analysis method. Research findings of 36 different studies including sample size, standard error, and effect values were analyzed with the help of CMA (Comprehensive Meta-Analysis) program. As a result of the meta-analysis, the effect size was found to be moderate (Fisher Z=0.380). According to the results of the meta-analysis, the H1 was accepted and it was revealed that the social capital level of the countries affected the economic growth at a moderate level. Considering the lack of consensus in the studies in the literature and the difficulty of measuring social capital, it is thought that this general finding is very valuable in terms of the literature and will make an important contribution.

References

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  • Ahmad, M., and Hall, S. G. (2017). Trust-Based Social Capital, Economic Growth and Property Rights: Explaining The Relationship. International Journal of Social Economics, 44(1), 21-52.
  • Akar, T. and Ay, A. (2018). The Impact of Social Capital and Innovation On Economic Growth. Journal of Economy Culture and Society, 58, 105-126.
  • Akçomak, I. S., and Müller-Zick, H. (2013). Trust and Innovation in Europe: Causal, Spatial and Non-Linear Forces. ODTÜ, TEKPOL. Access address: https://stps.metu.edu.tr/en/system/files/stps_wp_1304.pdf
  • Akçomak, I. S., and Ter Weel, B. (2009). Social Capital, Innovation and Growth: Evidence from Europe. European Economic Review, 53(5), 544-567.
  • Akın, C. S. (2013). Social Capital and Economic Growth: A Cross-Section Analysis On Different Income Groups. The Journal of Academic Social Science Studies, 6(7), 13–35.
  • Algan, Y., and Cahuc, P. (2010). Inherited Trust and Growth. American Economic Review, 100(5), 2060-2092.
  • Au, W. (2007). High-Stakes Testing and Curricular Control: A Qualitative Metasynthesis. Educational Researcher, 36(5), 258-267.
  • Bakioğlu, A. and Özcan, Ş. (2016). Meta-Analysis. 1st Edition, Ankara: Nobel Academic Publis.
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  • Baliamoune-Lutz, M. (2011). Trust-Based Social Capital, Institutions, And Development. The Journal of SocioEconomics, 40(4), 335-346.
  • Bayramoğlu, Z. and Bozdemir, M. (2020). The Effect of Social Capital Formation in Rural Areas on Sustainable Development. Turkish Journal of Agricultural Engineering Research, 1(1), 179-189.
  • Berggren, N., Elinder, M., and Jordahl, H. (2008). Trust and Growth: A Shaky Relationship. Empirical Economics, 35(2), 251-274.
  • Beugelsdijk, S., and Van Schaik, T. (2005). Social Capital and Growth in European Regions: An Empirical Test. European Journal of Political Economy, 21(2), 301-324.
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  • Bjornskov, C. (2012). How Does Social Trust Affect Economic Growth?. Southern Economic Journal, 78(4), 1346-1368.
  • Bond, C. F., and Richardson, K. (2004). Seeing The Fisher Z-Transformation. Psychometrika, 69(2), 291-303.
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  • Çalık, M., and Sözbilir, M. (2014). Parameters of Content Analysis. Egitim ve Bilim, 39(174), 33-38.
  • Card, N. A. (2012). Applied Meta-Analysis for Social Science Research. London: Guilford Publications.
  • Casey, T., and Christ, K. (2005). Social Capital and Economic Performance in The American States. Social Science Quarterly, 86(4), 826-845. Cohen, L., Manion, L., and Morrison, K. (2007). Research Methods in Education. The Handbook of Psychology-Vol 2 Methods 2 Specific methods (Sixth Edit). New York: Routledge.
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  • Dearmon, J., and Grier, K. (2009). Trust and Development. Journal of Economic Behavior & Organization, 71(2), 210-220.
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  • Egger, M., Smith, G. D., Schneider, M., and Minder, C. (1997). Bias in Meta-Analysis Detected by A Simple, Graphical Test. Bmj, 315(7109), 629-634.
  • Feki, C., and Chtourou, N. (2014). Social Capital and Economic Growth: Empirical Analysis of Panel Data. International Journal of Innovation and Scientific Research, 2(1), 164-176.
  • Forte, A., Peiró-Palomino, J., and Tortosa-Ausina, E. (2015). Does Social Capital Matter For European Regional Growth?. European Economic Review, 77, 47-64.
  • Fragkos, K.C., Tsagris, M. and Frangos, C.C. (2014). Publication Bias in Meta-Analysis: Confidence Intervals for Rosenthal’s Fail-Safe Number. International Scholarly Research Notices. Access address: https://www.hindawi.com/journals/isrn/2014/825383/
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  • Gönç Şavran, T. (2018). The Relationship Between Social Capital and Health: What Empirical Studies Show? Journal of Economy Culture and Society, 57, 53-91.
  • Grootaert, C. (1999). Social Capital, Household Welfare and Poverty in Indonesia. World Bank Policy Research Working Paper, 2148, 1- 79.
  • Grootaert, C. and Van Bastelaer, T. (2002). The Role of Social Capital in Development: An Empirical Assessment. Cambridge University Press: New York.
  • Guiso, L., Sapienza, P., and Zingales, L. (2004). The Role of Social Capital in Financial Development. American Economic Review, 94(3), 526-556.
  • Hall, S. G., and Ahmad, M. (2013). Can Trust Explain Social Capital Effect On Property Rights And Growth?. Procedia Economics and Finance, 7, 55-64.
  • Hasan, I., Hoi, C. K., Wu, Q., and Zhang, H. (2017). Social Capital and Debt Contracting: Evidence from Bank Loans and Public Bonds. Journal of Financial and Quantitative Analysis, 52(3), 1017-1047.
  • Helliwell, J. F. (1996). Economic Growth and Social Capital in Asia, Cambridge. MA: NBER Working Paper 5470, National Bureau of Economic Research.
  • Helliwell, J. F. (2007). Well-Being And Social Capital: Does Suicide Pose A Puzzle?. Social Indicators Research, 81(3), 455-496.
  • Huedo-Medina, T. B., Sánchez-Meca, J., Marín-Martínez, F., and Botella, J. (2006). Assessing Heterogeneity in Meta-Analysis: Q Statistic or I2 Index? Psychological Methods, 11, 193-206.
  • Inglehart, R., C. Haerpfer, A. Moreno, C. Welzel, K. Kizilova, J. Diez-Medrano, M. Lagos, P. Norris, E. Ponarin and B. Puranen et al. (eds.). (2014). World Values Survey: All Rounds - Country-Pooled Datafile Version: https://www.worldvaluessurvey.org/WVSDocumentationWVL.jsp. Madrid: JD Systems Institute.
  • Jha, A., and Chen, Y. (2015). Audit Fees and Social Capital. The Accounting Review, 90(2), 611-639.
  • Jin, J. Y., Kanagaretnam, K., Liu, Y., and Liu, N. (2019). Banks’ Loan Growth, Loan Quality, And Social Capital. Journal of Behavioral and Experimental Finance, 21, 83-102.
  • Jin, Z. C., Wu, C., Zhou, X. H., and He, J. (2014). A Modified Regression Method to Test Publication Bias in Meta-Analyses with Binary Outcomes. BMC Medical Research Methodology, 14(1), 1-9.
  • Karagül, M. and Akcay, S. (2002). Economic Growth and Social Capital: An Empirical Evidence. Economics. Business and Finance, 17(198), 82–90.
  • Kawachi, I., Kim, D. J., Coutts, A., and Subramanian, S. V. (2004). Reconciling The Three Accounts of Social Capital (Commentary). Int J Epidemiol, 33(4), 682-690.
  • Khalifa, S. (2016). Trust, Landscape, And Economic Development. Journal of Economic Development, 41(1), 19.
  • Kılıçkap, M. (2018). How to Interpret Meta-Analyses: A Recipe for Interpretation of the Methodology Used in The Meta-Analyses Conducted On Cardiovascular Risk Factors in Turkey. Turk Kardiyoloji Dernegi Arsivi: Turk Kardiyoloji Derneginin Yayin Organidir, 46(7), 624-635.
  • Kızılkaya, O. (2017). The Potential Effect of Social Capital On Economic Growth: Structural Fractured Cointegration Analysis for Turkey. Sosyoekonomi, 25(33), 175-194.
  • Knack, S., and Keefer, P. (1997). Does Social Capital Have an Economic Payoff? A Cross-Country Investigation. The Quarterly Journal of Economics, 112(4), 1251-1288.
  • Koç, A. and Ata, Y. (2012). The Relationship Between Social Capital and Economic Growth: An Empirical Study On EU Countries and Turkey. Journal of the Faculty of Economics and Administrative Sciences of Süleyman Demirel University, 17(1), 199–218.
  • Kormendi, R. C. and Meguire, F. G. (1985). Macroeconomic Determinants of Growth. Journal of Monetary Economics, 16(1), 141-63.
  • Lewis, S., and Clarke, M. (2001). Forest Plots: Trying to See the Wood and The Trees. Bmj, 322(7300), 1479-1480.
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There are 85 citations in total.

Details

Primary Language English
Journal Section RESEARCH ARTICLES
Authors

Abdulmuttalip Pilatin 0000-0002-2293-2808

Publication Date October 10, 2022
Published in Issue Year 2022 Volume: 6 Issue: 2

Cite

APA Pilatin, A. (2022). IMPACT OF SOCIAL CAPITAL ON ECONOMIC GROWTH: A META-ANALYSIS / Sosyal Sermayenin Ekonomik Büyüme Üzerindeki Etkisi: Bir Meta-Analiz. Uluslararası Ekonomi İşletme Ve Politika Dergisi, 6(2), 216-235. https://doi.org/10.29216/ueip.1132292

Recep Tayyip Erdogan University
Faculty of Economics and Administrative Sciences
Department of Economics
RIZE / TÜRKİYE