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political institutions) towards economic growth. Utilizing the World Value Survey (WVS)’s trust variable that has often been … studies, this study shows that WVS’ trust data suffer severe missing observation problem and the panel fixed effect estimation … of social capital beyond the WVS trust indicator. The results also indicate that political institutions effect on growth …
Persistent link: https://www.econbiz.de/10011258083
Intrinsically trustworthy agents never cheat. A society's willingness to trust and the quality of its institutions have … trustworthiness is important for output per capita and that the effect of trust is likely to come from trustworthiness. …
Persistent link: https://www.econbiz.de/10004976964
Assuming that J. S. Mill and others are correct in their belief that trust matters for the economic performance of … nations, the determinants of trust become important. Section 2 discusses the sources of trust and briefly summarizes empirical … evidence. Section 3 builds on Fukuyama’s concept of the “radius of trust” to identify the type of trust which should be …
Persistent link: https://www.econbiz.de/10008753046
Financial income and parental education are two determinants of child well-being rooted in a long tradition of sociological and economic research. These resources have been titled financial and human capital respectively. James Coleman had suggested a third type of capital which can have equally...
Persistent link: https://www.econbiz.de/10011108027
From Adam Smith’s perspective, the most prominent macroeconomic happening of the post-World War II period was not the Great Moderation, nor was it the recent Great Recession. Instead, it was the secular deceleration in economic growth occurring in the U.S., or the Great Deceleration. Smith’s...
Persistent link: https://www.econbiz.de/10011258534
The two sides of envy, destructive and competitive, give rise to qualitatively different equilibria, depending on economic, institutional, and cultural environment. If inequality is high, property rights are poorly protected, and social comparisons are strong, the society is likely to settle in...
Persistent link: https://www.econbiz.de/10008674246
This paper aims at analysing the performances of the EU member states in the Europe 2020 Strategy and understanding the main factors of success. It builds on the Europe 2020 Index developed in Pasimeni (2011) to quantify and measure progress achieved by the 27 countries in pursuing the...
Persistent link: https://www.econbiz.de/10011109968
This paper examines the role of long standing institutions – identified through geography, disease ecology, colonial legacy, and some direct measures of political and economic governance – on human development and its non income components across countries. The study employs a novel...
Persistent link: https://www.econbiz.de/10008645081
Recent research on macroeconomic growth has been focused on resolving several key issues, two of which, specification uncertainty of the growth process and variable uncertainty, have received much attention in the recent literature. The standard procedure has been to assume a linear growth...
Persistent link: https://www.econbiz.de/10005789428
The article is devoted to institutional control of social system and conceptual aspects of the structure of institutional matrix.
Persistent link: https://www.econbiz.de/10011259571