The labor contract usually assigns significant authority to the employer (hierarchical governance). The threat of hold-up of the employee by the employer, caused by this asymmetric distribution of decision rights, can be mitigated by a preference for reciprocity on the part of the employer or by...

This working paper analyzes the impact of social capital on economic growth in Spain during the 1985-2005 period. The literature in this context is virtually nonexistent and, in addition, whereas most studies, regardless of their context, have used survey data in order to measure social capital,...