A simplified endogenous economic growth model with social capital: Evidence for Ecuador

Carlos Andres Moreno-Hurtado,, Diego Ochoa-Jiménez, Gonzalo Leonardo, and Izquierdo-Montoya
Authors registered in the RePEc Author Service: Carlos Andrés Moreno Hurtado

Business and Economic Horizons (BEH), 2018, vol. 14, issue 2, 168-184

Abstract: The paper presents a simplified economic growth model with social capital, as an alternative for sustained long-term growth. The intuition behind the model suggests its application for developing economies that historically have focused their attention on the accumulation of physical capital and not on endogenous factors such as human capital and social capital. The model is considered as a Cobb-Douglas production function that includes three types of capital: physical, human and social. From the model, we obtain evidence from estimates for the Ecuadorian economy in the period 1980-2015, which underlie the main endogenous sources regarding physical capital. As a result, some policy implications are highlighted.

Keywords: Endogenous economic growth; physical capital; human capital; social capital; local development. (search for similar items in EconPapers)
JEL-codes: H52 O40 O43 (search for similar items in EconPapers)
Date: 2018
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Journal Article: A simplified endogenous economic growth model with social capital: Evidence for Ecuador (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:pdc:jrnbeh:v:14:y:2018:i:2:p:168-184

DOI: 10.15208/beh.2018.14

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