This paper addresses two hot topics of the contemporary debate, social capital and economic growth. Our theoretical analysis sheds light on decisive but so far neglected issues: how does social capital accumulate over time? Which is the relationship between social capital, technical progress and economic growth in the long run? The analysis shows that the economy may be attracted by alternative...

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent sh...

Social capital is defined as the shared knowledge, trust, and culture, embodied in the structural forms of networks and other stable inter-agent relationships. Social capital has been shown to be more difficult to build than economic capital, and to have greater beneficial effects for community as a whole. The relevance of the social capital concept for transitional agenda is explained by the i...

This paper develops a new latent index of human capital identified as valuable skills for seventy countries for the period 1970-2003. The index is compared to existing measures of human capital in assessing the Benhabib and Spiegel (2005) model of logistic technology diffusion. The study undertakes extensive sensitivity analysis and accounts for alternative production functions, capital-skill c...

Article history: Received 18 November 2011 Received in revised form 16 June 2012 Accepted 16 July 2012 Available online 21 July 2012 This paper analyzes the effect of health investment, and hence of health capital, on physical capital accumulation and long-run economic growth in an extended Ramsey model with an Arrow– Romer production function and a Grossman (1972) utility function. The paper c...

The growth of information technologies and a workforce capable of leveraging their capabilities have brought about heightened promises of the economic impact from technology. Increasingly, these promises reside in human capital, referring to highly educated and skilled workers with sufficient innovative acumen to bring about increases in economic output and productivity. In this study, the auth...

Nowadays, the structure of societies has an interwoven social space of various forms of capital that distinguishes social situations hierarchically. In this regard, cultural capital plays an important role as a bridge between economy and culture and causes the family, as a cultural and social variable, to have significant effects on socialization of the children. Therefore, the attitudes and be...

Purpose – The purpose of this paper is to deal with the conceptualization and measurement of the economic value of what we have termed “human capital of the third kind”, i.e. corporate culture. It also seeks to draw upon empirical research from the field of culture management to show how the economic value of human capital of the third kind can be measured. Design/methodology/approach – The pap...