Social capital as a network measure provides new insights on economic growth.

PloS one(2022)

引用 1|浏览13
暂无评分
摘要
Unveiling the main drivers of economic growth is of paramount importance. Previous research recognizes the critical role played by the factors of production: capital and labor. However, the exact mechanisms that underpin Total Factor Productivity (TFP) are not fully understood. An increasing number of studies suggests that the creation and transmission of knowledge, factor supply and economic integration are indeed crucial. Yet, the need for a systematic and unifying framework still exists. Nowadays capital and labor are embedded into a complex network structure through global supply chains and international migration. Recent research has established a link between network centralities and different types of social capital. In this work we employ the OECD's Multi-Regional Input-Output and International Migration datasets to build the network representation for capital and labor of 63 economies during 10 years. We then examine the role of social capital measures as drivers of the TFP adopting an extended Cobb-Douglass production function and addressing potential issues such as multicollinearity, reverse causality and non-linear effects. Our results indicate that social capital in the factors of production networks can significantly drive economic outputs through TFP.
更多
查看译文
关键词
social capital,economic growth,network measure
AI 理解论文
溯源树
样例
生成溯源树,研究论文发展脉络
Chat Paper
正在生成论文摘要