Social Capital and Economic Development: Searching for Explanations

Gaute Torsvik

Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen

Abstract: Social capital is a topical concept in economic development. The idea is that differential economic success can be explained in terms of differences in various social variables that are called social capital. My criticism is that this hypothesis, as it stands now, is too vague to help us understand and explain economic development. The variables that are included in social capital are not well defined, and it is not spelled out why and how these variables affect production.

Keywords: ECONOMIC DEVELOPMENT; CAPITAL; SOCIETY (search for similar items in EconPapers)
JEL-codes: E22 O10 (search for similar items in EconPapers)
Pages: 26 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:fth:bereco:1699

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