 Social trust and economic development in Korea. Chapter 4 in Social Trust and Economic Development, 2019, pp 119-141 from Edward Elgar Publishing Abstract: Chapter 4 analyses the effects of social trust on economic development in Korea in conjunction with the other three Asian tigers (Singapore, Hong Kong, and Taiwan). Despite high expectations that the four tigers would quickly achieve advanced economic status, Korea has not yet succeeded in this goal in terms of an OECD average per capita GDP (PPP), while Singapore, Hong Kong, and Taiwan have achieved it. In total, 46 social trust indicators measured by five worldwide organisations are selected to compare social trust levels of the four tigers. Relative levels of social trust among the four tigers are consistent with the relative levels of their per capita GDP (PPP). To discern a causal mechanism between social trust and economic progress, ‘the method of concomitant variation’ by J.S. Mill and the ‘process tracing’ method are employed. The chapter concludes that the different levels of social trust have highly likely contributed to the different levels of per capita GDP (PPP) among the four tigers. Keywords: Asian Studies; Business and Management; Economics and Finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16629_4 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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