An emprirical approach to trust and growth in the european countries

  1. Isabel Neira
Journal:
Applied econometrics and international development

ISSN: 1578-4487

Year of publication: 2009

Volume: 9

Issue: 2

Pages: 63-72

Type: Article

DIALNET GOOGLE SCHOLAR lock_openOpen access editor

More publications in: Applied econometrics and international development

Abstract

Trust problems due to the international financial crisis originated by the "subprime" mortgages, raised the importance of a subject that became common to the economic growth models, since the end of the XX century. This work presents an approach to the concept of "trust" and its implications to the economic growth. In order to accomplish this goal it is developed a principal components analysis in order to reduce the dimensions of the variable and thus incorporate it in a growth model through a "proxy" variable. The analysis uses 13 EU countries with available data since 1980 to 1999, proposing a growth model that allows the analysis of the human capital and social capital effect in the european economies under analysis.

Bibliographic References

  • Barro, R. J. (1991). Economic growth a cross section of countries. The Quaterly Journal of Economics, May, 407-443
  • Barro, R. and Lee, Jong-Wha (2001). Schooling Quality in a Cross-Section of Countries Economica, London School of Economics and Political Science, vol. 68(272), pages 46588, November
  • Benhabid, J. Spiegel, M. (1994). The role of human capital in economic development. Evidence from agregate cross-country data. Journal of Monetary Economics, 34, 143-173
  • Berger-Schmitt, R. (2002). Considering Social Cohesion in Quality of Life Assessments: Concept and Measurement. Social Indicators Research, 58, 403-428 Beugelsdijk, S. and Schaik, T. v. (2005). Social Capital and Growth in European Regions: an empirical test. European Journal of Political Economy 21(2), 301-324
  • Guisan, M.C. (2009). Government Effectiveness, Education, Economic Development and Well-Being: Analysis of European Countries in Comparison with the United States and Canada, 2000-2007, Applied Econometrics and International Development, Vol. 9-1, pp.39-48, free on line.1
  • Guisan, M.C. and Neira, I.(2008). “Direct and Indirect Effects of Human Capital on World Development, 1960-2004”, Applied Econometrics and International Development, Vol. 6-1, pp.17-34, free on line.1
  • Guisan, M.C., and Neira, I. (2006) “Función de producción: relación con el empleo, el salario, el capital humano y el capital fisico” Working Paper Economic Development Nº 91, free on line.2
  • Thomas Farole & Andrés Rodríguez-Pose & Michael Storper (2007) Social capital, rules, and institutions: A cross-country investigation, Working papers. 2007-12, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales
  • Kyriacou, G. (1991). Level and Growth Effects of Human Capital : a Cross-Contry Study. Economic Journal, 49, 783-792
  • Knack, S. and Keefer, P. (1997). Does Social Capital ha e an economic payoff? A crosscountry investigation. The Quarterly Journal of Economics 112(4), 1251-1288
  • Mankiw, G.N., Romer, D. , Weil, D.N. (1992). A contribution of the empirics of economic growth. The Quaterly Journal of Economics, May, 407-437
  • Neira, I. (2002). “Modelos econométricos de capital humano: Principales enfoques y evidencia empírica”, Working Paper Economic Development, nº 64, free on line.
  • Neira, I; Vázquez, E. and Portela, M. (2009) An Empirical Analysis of Social Capital and Economic Growth in Europe (1980–2000). Social Indicators Research 92:111-129
  • Noneman, W. and Vanhoudt, P. (1996). A further augmentation of the Solow model and the empirics of economic growth for OECD countries, The Quaterly Journal of Economics, CXI (3), 943-953
  • Portela, M. and Neira, I. (2002). Capital Social: Concepto y Estudio Econométrico sobre el Capital Social en España. Revista de Estudios Económicos de Desarrollo Internacional 2 (2), 25-52
  • Putnam, R. (2000, March). Social Capital: Measurement and Consequences. (Kennedy School of Government, Harvard University. Paper presented at Symposium on the Contribution of Human and Social Capital to Sustained Economic Growth and Well Being, Quebec)
  • Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98 (5), 71-101 Shultz , T W (1963) The Economic Value of Education.Columbia university Press. New York
  • Schuller, T. (2000, March). The Complementary Roles of Human and Social Capital. (Birkbeck College, University of London. Paper presented at Symposium on the Contribution of Human and Social Capital to Sustained Economic Growth and Well Being, Quebec)
  • World Values Surveys and European Values Surveys (2005). ICPSR 2790. http://www.icpsr.umich.edu/access/quick-data.html
Data source: Dialnet