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The Fragility of Social Capital AgEcon
Antoci, Angelo; Sabatini, Fabio; Sodini, Mauro.
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 steady states, depending on the initial social capital endowments and cultural exogenous parameters representing the relevance of social interaction and trust in well-being and production. When material consumption and relational goods are substitutable, the choice to devote more and more time to private activities may lead the economy to a “social poverty trap”,...
Tipo: Working or Discussion Paper Palavras-chave: Economic Growth; Technical Progress; Social Interactions; Social Capital; Research and Development/Tech Change/Emerging Technologies; A13; D03; O43; Z13.
Ano: 2009 URL: http://purl.umn.edu/50401
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STOCHASTIC FRONTIER ANALYSIS OF NEW ZEALAND'S MANUFACTURING INDUSTRIES: SOME EMPIRICAL RESULTS AgEcon
Gounder, Rukmani; Xayavong, Vilaphonh.
This paper examines the sources of total factor productivity growth (TFP) in New Zealand's manufacturing industries over the period 1978-98 and over various sub-periods. Examination of the data adopts two stages using a stochastic frontier approach. The first stage involves the specification and estimation of the stochastic frontier production function and the prediction of technical efficiency effects. The second stage involves the specification of a regression model for the predicted technical efficiency effects. The sources of TFP growth have been decomposed into four components; i.e. technical progress, changes in technical efficiency, scale effects, and change in allocative efficiency. The empirical results show that productivity has been largely due...
Tipo: Working or Discussion Paper Palavras-chave: New Zealand Manufacturing Sector; Total Productivity Growth; Technical Progress; Technical Efficiency; Scale Components; Allocative Efficiency; Industrial Organization; D24; C23; O47.
Ano: 2004 URL: http://purl.umn.edu/23714
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