Culture & social capital: creation of human capital and economic growth

Marta Sistelo and Pedro Mazeda Gil

MPRA Paper from University Library of Munich, Germany

Abstract: Culture and social capital may be variables of particular interest when explaining economic growth. In recent years, policymakers and economists have increasingly considered their role in economic growth, yet cultural capital and social capital are analyzed separately. Despite being different concepts of capital, in this paper we argue that there is a link between cultural and social capital, and both need to be accounted for when analyzing economic growth and welfare. We develop a theoretical dynamic general-equilibrium model using a mainstream endogenous economic growth set-up (namely with human capital accumulation), incorporating cultural and social capital. We use the model to devise long-run and transitional-dynamics effects from the perspective of both economic growth and welfare, explicitly considering the interplay between cultural and social capital and other forms of capital. A detailed calibration of the model allows for the derivation of quantitative results, with an emphasis on policy implications.

Keywords: Endogenous Growth; Social Capital; Cultural Capital; Human Capital; Welfare (search for similar items in EconPapers)
JEL-codes: J24 O4 Z10 (search for similar items in EconPapers)
Date: 2025, Revised 2025-10
New Economics Papers: this item is included in nep-cul, nep-dge, nep-gro and nep-soc
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:126644

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