Research Article
BibTex RIS Cite

AN EXAMINATION OF THE IMPACT OF SOCIAL CAPITAL ON GROWTH IN THE AXIS OF DEMOCRATIZATION

Year 2021, Issue: 123, 81 - 106, 04.02.2022
https://doi.org/10.52836/sayistay.1068409

Abstract

The social capital phenomenon is considered as the missing link of growth by recent studies. Attention has been drawn to the determinant of institutional factors, especially a stable democratic structure, for the occurrence of an impact of social capital on growth. In this regard, our study, covering 138 countries over the period 2009-2018, consists of two research questions. Firstly, “Does the economic growth performance of countries depend on accumulation of social capital as well as the physical and human capital accumulation highlighted by the theory?” Secondly, “Does the impact of social capital on growth change depending on the democratization level of the countries?” Linear panel data analysis was employed to examine the first question and the panel threshold method proposed by Hansen (1999) was utilized for the second research question. This nonlinear approach constitutes the original value of our study. Our analysis results indicate that, in countries where the democratization level is above a certain level, social capital has a determining impact on growth. In this framework, our findings indicate that the establishment and maintenance of democratic structure is one of the substantial policy focuses in the process of social capital-led growth.

References

  • Acemoglu, Daron, Suresh Naidu, Pascual Restrepo and James A. Robinson (2019), Democracy Does Cause Growth, Journal of Political Economy, 127(1): 47-100.
  • Aghion, Philippe, Alberto Alesina and Francesco Trebbi (2007), Democracy, Technology, and Growth, NBER Working Paper No. 13180, p. 1-31.
  • Ahlerup, Pelle, Ola Olsson and David Yanagizawa (2009), Social capital vs Institutions in the Growth Process, European Journal of Political Economy, 25(1): 1–14.
  • Akçomak, I. Semih and Bas ter Weel (2009), Social Capital, Innovation and Growth: Evidence from Europe, European Economic Review, 53(5): 544-567.
  • Aktan, Coşkun Can and Hilmi Çoban (2008), Bir Sosyal Sermaye Olarak Güven, Pazarlama ve İletişim Kültürü Dergisi, 1: 20-27.
  • Arrow, Kenneth (1999), “Observations on Social Capital”, Social Capital: A Multifaceted Perspective, Dasgupta, Partha and Ismail Serageldin, The World Bank Publications, Washington.
  • Barro, Robert (1996), Democracy and Growth, Journal of Economic Growth, 1(1): 1-27.
  • Beugelsdijk, Sjoerd and Ton van Schaik (2005), Social Capital and Growth in European Regions: An Empirical Test, European Journal of Political Economy, 21(2): 301–324.
  • Bhandari, Humnath and Kumi Yasunobu (2009), What is Social Capital? A Comprehensive Review of the Concept, Asian Journal of Social Science, 37(3): 480-510.
  • Boulila, Ghazi, Lobna Bousrih and Mohamed Trabelsi (2008), Social Capital and Economic Growth: Empirical Investigations on the Transmission Channels, International Economic Journal, 22(3): 399–417.
  • Bourdieu, Pierre (1986), “The Forms of Capital”, Handbook of Theory and Research for the Sociology of Education, Richardson, John and George Richardson, Westport, CT: Greenwood.
  • Coleman, James (1988), Social Capital in the Creation of Human Capital, American Journal of Sociology, 94: 95-120.
  • Coleman, James (1999), “Social capital in the creation of human capital”, Social Capital: A Multifaceted Perspective, Dasgupta, Partha and Ismail Serageldin, The World Bank Publications, Washington.
  • Durston, John (1999), Building Community Social Capital, Cepal Review, 69: 103-118. Freedom House (2020), https://freedomhouse.org/, Accessed: 12.09.2020
  • Fukuyama, Francis (1997), Social Capital, The Tanner Lectures on Human Values, Oxford: Brasenose College.
  • Fukuyama, Francis (2002), Social Capital and Development: The Coming Agenda, SAIS Review, 22(1): 23-37.
  • Hanifan, L. Judson, (1916), The Rural School Community Center, The Annals of the American Academy of Political and Social Science, 67: 130-138.
  • Hansen, Bruce (1999), Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference, Journal of Econometrics, 93(2): 345-368.
  • Helliwell, Johnand Robert Putnam (1995), Economic Growth and Social Capital in Italy, Eastern Economic Journal, 21(3): 295-307.
  • Hjerppe, Reino (1998), Social Capital and Economic Growth, VATT Discussion Papers 183:Government Institute for Economic Research, Finland.
  • Hjerppe, Reino (2003), Social Capital and Economic Growth Revisited, VATT Discussion Papers 307: Government Institute for Economic Research, Finland.
  • Iyer, Sriya, Michael Kitsonand Bernard Toh (2005), Social Capital, Economic Growth and Regional Development, Regional Studies, 39(3): 1015–1040.
  • Knack, Stephen and Philip Keefer (1997), Does Social Capital Have an Economic Payoff? A Cross-Country Investigation, The Quarterly Journal of Economics, 112(4): 1251-1288.
  • Myeong, Seunghwan and Hyungjun Seo (2016), Which Type of Social Capital Matters for Building Trust in Government? Looking for a New Type of Social Capital in the Governance Era, Journal of Sustainability, 8(322): 1-15.
  • OECD. (2018). Trust and its determinants: Evidence from the Trustlab experiment. OECD Statistics Working Papers 2018/02.
  • Paxton, Pamela (2002), Social Capital and Democracy: An Interdependent Relationship, American Sociological Review, 67(2): 254-277.
  • Pérez, Francisco, Lorenzo Serrano, Vicente Montesinos and Juan Fernández de Guevara (2006), Measurement of Social Capital and Growth: an Economic Methodology, Munich Personal RePEc Archive.
  • Putnam, Robert (1993a), “Social Capital and Institutional Success”, Making Democracy Work: Civic Traditions in Modern Italy, Putnam, Robert, Robert Leonardi and Raffaella Y. Nanetti, Princeton University Press
  • Putnam, Robert (1993b), The Prosperous Community: Social Capital and Public Life, The American Prospect, 13(4): 1-11.
  • Putnam, Robert (1995), Tuning In, Tuning Out: The Strange Disappearance of Social Capital in America, Political Science and Politics, 28(4): 664-683.
  • Putzel, James (1997), Accounting for the `dark side’ of social Capital: Reading Robert
  • Putnam on Democracy, Journal of International Development, 9(7): 939-949.
  • Tavares, J José and Romain Wacziarg (2001), How Democracy Affects Growth, European Economic Review, 45(8): 1341-1378.
  • The Legatum Institute Foundation (2019), The Legatum Prosperity Index: A Tool for Transformation, London.
  • The Legatum Institute (2020), The Legathum Prosperity Index, https://www.prosperity.com/, (Accessed on 15.08.2020)
  • Trigilia, Carlo (2001), Social Capital and Local Development, European Journal of Social Theory, 4(4): 427–442. UNDP (2020), United Nations Development Programme, http://hdr.undp.org/en/content/human-development-index-hdi, Accessed: 12.09.2020.
  • Vega-Redondo, Fernando (2006), Building up Social Capital in a Changing World, Journal of Economic Dynamics & Control, 30(11): 2305–2338.
  • Whiteley, Paul (2000), Economic Growth and Social Capital, Political Studies Association, Vol. 48, p. 443–466.
  • Woolcock, Michaeland Deepa Narayan (2000), Social Capital: Implications for Development Theory, Research, and Policy, The WOTU Bank Research Observe, 15(2): 225-249.
  • World Bank (2020), https://databank.worldbank.org/source/world-development-indicators, Accessed: 12.09.2020

DEMOKRATİKLEŞME EKSENİNDE SOSYAL SERMAYENİN BÜYÜME ÜZERİNDEKİ ETKİSİNE YÖNELİK BİR İNCELEME

Year 2021, Issue: 123, 81 - 106, 04.02.2022
https://doi.org/10.52836/sayistay.1068409

Abstract

Sosyal sermaye olgusu son dönem çalışmalarda büyümenin kayıp halkası olarak görülmektedir. Sosyal sermayenin büyüme üzerinde etkili olabilmesi noktasında ise; başta istikrarlı demokratik bir yapı olmak üzere, kurumsal faktörlerin belirleyiciliğine dikkat çekilmiştir. Bu bağlamda 2009-2018 yılları arası 138 ülkeyi kapsayan çalışmamızda iki temel araştırma sorusundan yola çıkılmıştır. Bunlardan ilki, “Ülkelerin ekonomik büyüme performansı, teorinin ön plana çıkardığı fiziki ve beşerî sermaye birikiminin yanı sıra sosyal sermaye birikimine de dayanmakta mıdır?” İkincisi ise, “Sosyal sermayenin büyüme üzerindeki etkisi, ülkelerin demokratikleşme düzeyine bağlı olarak değişmekte midir?” şeklindedir. İlk soruya yönelik olarak doğrusal panel veri analizi, ikinci soruya yönelik olarak ise Hansen (1999) tarafından ortaya konulan panel eşik yaklaşımı kullanılmıştır. Çalışmanın özgün değerini oluşturan ikinci kısımda yapılan analiz sonuçlarına göre demokratikleşme düzeyinin belirli bir değerin üzerinde olduğu ülkelerde, sosyal sermaye büyüme üzerinde belirleyici bir etkiye sahiptir. Bu kapsamda bulgularımız, sosyal sermayenin büyüme yaratma sürecinde önemli politika odaklarından birinin demokratik yapının tesis ve temin edilmesi olduğunu göstermektedir.

References

  • Acemoglu, Daron, Suresh Naidu, Pascual Restrepo and James A. Robinson (2019), Democracy Does Cause Growth, Journal of Political Economy, 127(1): 47-100.
  • Aghion, Philippe, Alberto Alesina and Francesco Trebbi (2007), Democracy, Technology, and Growth, NBER Working Paper No. 13180, p. 1-31.
  • Ahlerup, Pelle, Ola Olsson and David Yanagizawa (2009), Social capital vs Institutions in the Growth Process, European Journal of Political Economy, 25(1): 1–14.
  • Akçomak, I. Semih and Bas ter Weel (2009), Social Capital, Innovation and Growth: Evidence from Europe, European Economic Review, 53(5): 544-567.
  • Aktan, Coşkun Can and Hilmi Çoban (2008), Bir Sosyal Sermaye Olarak Güven, Pazarlama ve İletişim Kültürü Dergisi, 1: 20-27.
  • Arrow, Kenneth (1999), “Observations on Social Capital”, Social Capital: A Multifaceted Perspective, Dasgupta, Partha and Ismail Serageldin, The World Bank Publications, Washington.
  • Barro, Robert (1996), Democracy and Growth, Journal of Economic Growth, 1(1): 1-27.
  • Beugelsdijk, Sjoerd and Ton van Schaik (2005), Social Capital and Growth in European Regions: An Empirical Test, European Journal of Political Economy, 21(2): 301–324.
  • Bhandari, Humnath and Kumi Yasunobu (2009), What is Social Capital? A Comprehensive Review of the Concept, Asian Journal of Social Science, 37(3): 480-510.
  • Boulila, Ghazi, Lobna Bousrih and Mohamed Trabelsi (2008), Social Capital and Economic Growth: Empirical Investigations on the Transmission Channels, International Economic Journal, 22(3): 399–417.
  • Bourdieu, Pierre (1986), “The Forms of Capital”, Handbook of Theory and Research for the Sociology of Education, Richardson, John and George Richardson, Westport, CT: Greenwood.
  • Coleman, James (1988), Social Capital in the Creation of Human Capital, American Journal of Sociology, 94: 95-120.
  • Coleman, James (1999), “Social capital in the creation of human capital”, Social Capital: A Multifaceted Perspective, Dasgupta, Partha and Ismail Serageldin, The World Bank Publications, Washington.
  • Durston, John (1999), Building Community Social Capital, Cepal Review, 69: 103-118. Freedom House (2020), https://freedomhouse.org/, Accessed: 12.09.2020
  • Fukuyama, Francis (1997), Social Capital, The Tanner Lectures on Human Values, Oxford: Brasenose College.
  • Fukuyama, Francis (2002), Social Capital and Development: The Coming Agenda, SAIS Review, 22(1): 23-37.
  • Hanifan, L. Judson, (1916), The Rural School Community Center, The Annals of the American Academy of Political and Social Science, 67: 130-138.
  • Hansen, Bruce (1999), Threshold Effects in Non-Dynamic Panels: Estimation, Testing, and Inference, Journal of Econometrics, 93(2): 345-368.
  • Helliwell, Johnand Robert Putnam (1995), Economic Growth and Social Capital in Italy, Eastern Economic Journal, 21(3): 295-307.
  • Hjerppe, Reino (1998), Social Capital and Economic Growth, VATT Discussion Papers 183:Government Institute for Economic Research, Finland.
  • Hjerppe, Reino (2003), Social Capital and Economic Growth Revisited, VATT Discussion Papers 307: Government Institute for Economic Research, Finland.
  • Iyer, Sriya, Michael Kitsonand Bernard Toh (2005), Social Capital, Economic Growth and Regional Development, Regional Studies, 39(3): 1015–1040.
  • Knack, Stephen and Philip Keefer (1997), Does Social Capital Have an Economic Payoff? A Cross-Country Investigation, The Quarterly Journal of Economics, 112(4): 1251-1288.
  • Myeong, Seunghwan and Hyungjun Seo (2016), Which Type of Social Capital Matters for Building Trust in Government? Looking for a New Type of Social Capital in the Governance Era, Journal of Sustainability, 8(322): 1-15.
  • OECD. (2018). Trust and its determinants: Evidence from the Trustlab experiment. OECD Statistics Working Papers 2018/02.
  • Paxton, Pamela (2002), Social Capital and Democracy: An Interdependent Relationship, American Sociological Review, 67(2): 254-277.
  • Pérez, Francisco, Lorenzo Serrano, Vicente Montesinos and Juan Fernández de Guevara (2006), Measurement of Social Capital and Growth: an Economic Methodology, Munich Personal RePEc Archive.
  • Putnam, Robert (1993a), “Social Capital and Institutional Success”, Making Democracy Work: Civic Traditions in Modern Italy, Putnam, Robert, Robert Leonardi and Raffaella Y. Nanetti, Princeton University Press
  • Putnam, Robert (1993b), The Prosperous Community: Social Capital and Public Life, The American Prospect, 13(4): 1-11.
  • Putnam, Robert (1995), Tuning In, Tuning Out: The Strange Disappearance of Social Capital in America, Political Science and Politics, 28(4): 664-683.
  • Putzel, James (1997), Accounting for the `dark side’ of social Capital: Reading Robert
  • Putnam on Democracy, Journal of International Development, 9(7): 939-949.
  • Tavares, J José and Romain Wacziarg (2001), How Democracy Affects Growth, European Economic Review, 45(8): 1341-1378.
  • The Legatum Institute Foundation (2019), The Legatum Prosperity Index: A Tool for Transformation, London.
  • The Legatum Institute (2020), The Legathum Prosperity Index, https://www.prosperity.com/, (Accessed on 15.08.2020)
  • Trigilia, Carlo (2001), Social Capital and Local Development, European Journal of Social Theory, 4(4): 427–442. UNDP (2020), United Nations Development Programme, http://hdr.undp.org/en/content/human-development-index-hdi, Accessed: 12.09.2020.
  • Vega-Redondo, Fernando (2006), Building up Social Capital in a Changing World, Journal of Economic Dynamics & Control, 30(11): 2305–2338.
  • Whiteley, Paul (2000), Economic Growth and Social Capital, Political Studies Association, Vol. 48, p. 443–466.
  • Woolcock, Michaeland Deepa Narayan (2000), Social Capital: Implications for Development Theory, Research, and Policy, The WOTU Bank Research Observe, 15(2): 225-249.
  • World Bank (2020), https://databank.worldbank.org/source/world-development-indicators, Accessed: 12.09.2020
There are 40 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Research Articles
Authors

Nazmiye Tekdemir 0000-0002-7292-569X

Pelin Varol İyidoğan This is me

Publication Date February 4, 2022
Published in Issue Year 2021 Issue: 123

Cite

APA Tekdemir, N., & Varol İyidoğan, P. (2022). AN EXAMINATION OF THE IMPACT OF SOCIAL CAPITAL ON GROWTH IN THE AXIS OF DEMOCRATIZATION. Sayıştay Dergisi, 32(123), 81-106. https://doi.org/10.52836/sayistay.1068409