Social capability and economic development

Jonathan Temple and Paul Johnson

No 21 & 114, Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: This paper explores the role of 'social capability' in growth and development. We present a wide variety of evidence to show that economic growth is strongly related to the extent of a country's initial social development. We also show that differences in social capability can explain the polarization that may be taking place in the world income distribution. Finally, our results lead us to reject the influential augmented Solow model in favour of the alternative view, in which technology is allowed to differ across countries and social factors play a role in the speed of catching up.

Date: 1996-07
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Working Paper: Social Capability and Economic Development (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:nuf:econwp:0021

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