Social Capital, Economic Growth and Transition Economies

Working Papers from Aarhus School of Business - Department of Economics

Abstract: The notion of "social capital" was first introduced by the sociologist James Coleman in 1988. He defined it as "the ability of people to work togather for common purposes in groups and organizations". It is argued that a group with members that trust each other can accomplish more economic groth than a similar group without trust. In this way, Coleman has suggested that social capital is a new production factor which must be added to the conventional concepts of human and physical capital.

Keywords: SOCIAL CHOICE; INTEREST GROUPS; ECONOMIC GROWTH (search for similar items in EconPapers)
JEL-codes: D70 D71 O47 (search for similar items in EconPapers)
Date: 1998

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