The Impact of Social Capital on Economic Growth: in Selected Developed and Developing Countries

Document Type : Original Article

Authors

1 Assistant Professor, Department of Public Policy and Political Economy, Faculty of Law and Political Sciences, Allameh Tabatabai University

2 Master of Economics, Faculty of Management and Economics, Shahid Bahonar University, Kerman, Iran

3 Associate Professor, Department of Economics, Faculty of Human Sciences, Ayatollah Borujerdi University, Borujerd, Iran

4 Master of Economics, Faculty of Humanities, Ayat A... Borujerdi University, Borujerd, Iran

10.22051/ijosed.2024.47502.1041

Abstract

In Recent Years, with The Expansion of Endogenous Growth models, Human capital has been Considered as the most Important Factor of Economic growth. After that, Along with Human capital, Social Capabilities have been taken into Consideration, and in this Regard, the Role of social capital has Gained a Special place in Studies Related to Economic growth and Development. Therefore, the Purpose of this Research is to Investigate the impact of Social capital on Economic growth in a Selection of Developed and Developing Countries by using the auto-Regression Distribution Lag Panl (Panl ARDL) During the Period of 2009-2021.The Obtained Results Indicate that in the short term the impact of social capital on economic growth in developed and developing countries had a Positive impact and in the Long term this impact was Positive and Significant. In Developed Countries, the impact of social capital on economic growth has been higher than in developing countries. The variables of capital stock, Labor Force and the Degree of Openness of the Economy in both Groups of Countries have had a Positive and Significant Effect on Economic growth in the long term and have led to an Increase in Economic growth. Therefore, it is necessary to pay attention to the indicators of social capital, especially the increase of social cohesion and the Increase of Citizenship and Civil Participation on Economic growth and Development.

Keywords

References

 
Akçomak, I. S., & TerWeel, B. (2009). Social capital, innovation and growth: Evidence from Europe. European Economic Review, 53(5), 544-567.
Antonietti, R., & Boschma, R. (2021). Social capital, resilience, and regional diversification in Italy. Industrial and Corporate Change, 30(3), 762-777.
Boulila, G., Bousrih, L., & Trabelsi, M. M. (2018). Social capital and economic growth: empirical investigations on the transmission channels. International Economic Journal, 22(3), 399-417.
Crescenzi, R., Gagliardi, L., & Percoco, M. (2013). The bright side of social capital: How bridging makes Italian provinces more innovative. Geography, institutions and regional economic performance, 143-164.
Dehghani, A., Osmani, F., & Gorjipour, M. J. (2019). The Effect of Environmental Efficiency on the Industy Value Added of Natural Gas Consumption Over 2008-2014: A Case Study of Iran. Journal of Environmental and Natural Resource Economics, 3(4), 25-45. [in persion].
Elmi, Z. & Ghorbani, M. (2016). The effect of social capital on economic growth in selected countries of the Middle East and North Africa, Iranian social development studies,8(4), 72-82. [in persion].
Ghaderi, S., & Saadati pour, M. (2023). The Effects of Human Capital and Social Capital on Innovation in Selected OPEC Member Countries: Panel ARDL Approach. Innovation Economic Ecosystem Studies, 3(3), 17-34. [in persion].
Ghiasi, M., sarlak, A., & Ghafari, H. (2020). Investigating the relationship between social capital, health capital and economic growth in Provinces of Iran. Quarterly Journal of Applied Theories of Economics, 7(3), 131. [in persion].
Jima, M. D., & Makoni, P. L. (2023). Financial inclusion and economic growth in Sub-Saharan Africa—A panel ARDL and Granger non-causality approach. Journal of Risk and Financial Management, 16(6), 299.
Jain, N., & Mohapatra, G. (2023). Dynamic linkages between trade, growth, inequality, and poverty in emerging countries: An application of panel ARDL approach. The Journal of International Trade & Economic Development, 1-17.
Kamali Dehkordi, P. Nazarizinali, A. Makian, N. & Dehghani, F. (2018). The effect of types of capital on the economic growth of Iran's provinces, strategic and macro policies,7(1), 65-85. [in persion].Kamali Dehkordi, P. Mombini,. Z. Abdolahi, F. & Ghobishabi, A. (2020). The spatial Effect of Urbanization on Energy Eonsumption in Selected OPEC member countries, Economic modeling,13(26), 288-310. [in persoin].
Ketterer, T. D., & Rodríguez‐Pose, A. (2018). Institutions vs. first‐nature geography: What drives economic growth in Europes regions? Papers in Regional Science, 97, 25-S62.
Maaboudi, R., & Dare Nazari, Z. (2021). An Analysis of the Share of Social Capital in Iran’s Economic Growth During the Years 2002-2019. Social Capital Management, 8(4), 633-663.Moro no, M, (2018). Social capital, innovation and economic growth. Journal of behavioral and experimental economics, 73, 46-52. [in persion].
Makian, S. Karbalaei, F. & Bahrami, F. (2022). Social capital and Economic growth, strategic and macro policies, 1(9), 184-209. [in persion].Mehrara, M., & Rezaei Bargoshadi, S. (2016). The Determinants of Economic Growth in Iran Based on Bayesian Model Averaging and Weighted Averaging Least Square. Economic Growth and Development Research, 6(23), 114-89. [in persion].
Muringani, J., Fitjar, R. D., & Rodríguez-Pose, A., (2021). Social capital and economic growth in the regions of Europe. Environment and Planning A: Economy and Space, 53(6), 1412-1434.
Mishchuk, H., Bilan, Y., Androniceanu, A., & Krol, V., (2023). Social capital: Evaluating its roles in competitiveness and ensuring human development. Journal of Competitiveness, 15(2),19-34.
Poormohamadi, S. Tehranchian, A, M. & Raskhi, S. (2019). Interactive effect of degree of trade openness and monetary policies on economic growth and inflation, economic modeling, 14(1),73-88. [in persion].
Smith, N, & Thomas, E. (2017). Regional conditions and innovation in Russia: The impact of foreign
direct investment and absorptive capacity. Regional Studies 51(9): 1412–1428.
Sori, A. (2013). Social capital and growth in Iran, research and economic policies, 22(69), 49-64. [in persion].
Westlund, H., & Larsson, J. P., (2016). Social capital and regional development: an introduction. In Handbook of social capital and regional development, 1-23.

Files

Share

How to cite

Statistics