Social capital, the culture of trust, and economic development

Cartwright, Edward and Singh, Tarun (2013) Social capital, the culture of trust, and economic development. In: Christiansen, Bryan, ed. Economic Behavior, Game Theory, and Technology in Emerging Markets. IGI Global, pp. 91-108. ISBN 9781466647459. (doi:https://doi.org/10.4018/978-1-4666-4745-9.ch006) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

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Official URL
http://dx.doi.org/10.4018/978-1-4666-4745-9.ch006

Abstract

The benefits accruing from social networks and structures have been shown to correlate with economic performance at both the macro- and micro-levels. Indeed, social capital can be seen as a catalyst through which human and physical capital are utilized and political and economic freedom realized. In this chapter, the authors briefly review the broad extant literature on social capital before embarking in more detail on how game theory can be used to analyze and model social capital. Particular attention is given to the population game approach. This approach is well suited to model social capital as it allows us to capture individual behaviour, societal influence, and network structure. The growth of social capital is seen to depend on the incentives for cooperation, the way in which people learn from past experience, and the inter-connectedness of the social network. A particularly important question for many emerging economies is how social capital can be encouraged to grow from a low base. In a concluding section, which includes a discussion of the complementarities between strong institutions and social capital, the authors use the population game approach to study this issue.

Item Type: Book section
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Edward Cartwright
Date Deposited: 23 Nov 2013 12:01 UTC
Last Modified: 14 May 2014 12:42 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/36869 (The current URI for this page, for reference purposes)
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