Social capital literature and Durlauf´s criticism

Lízia Figueiredo
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Lízia Figueiredo: Cedeplar-UFMG

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: Despite the lack of consensus on the appropriate concept of ‘social capital’, research in the area has continued even in the most criticized macroeconomic area. The investigation about the importance of social capital to generate differences in regional per capita income (per capita income growth rates) had new contributions in the last decade. Robustness analysis was carried on for cross-country analysis and interregional studies were explored. Empirical research was usually based on the idea that social capital is ‘norms, networks and trust’, although without a deep discussion about this choice. We will argue that the acceptance of this pragmatic concept was wise, not only because it allowed empirical research to follow one, but also because it is theoretically well established. We will also argue that the concern about robustness is one of the main ways ahead to the macro research, which was exactly the way followed by this literature. In other words, we will argue that economists follow a good practice in the episode and that the fruits of the research allow us to rethink and improve the way economists behave.

Keywords: social capital; economic methodology; economic growth. (search for similar items in EconPapers)
JEL-codes: B22 B41 O11 O40 Z13 (search for similar items in EconPapers)
Date: 2011-07
New Economics Papers: this item is included in nep-hpe and nep-soc
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