| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9891 |
| DP9891 Social Capital, Government Expenditures, and Growth | |
| Giacomo Ponzetto | |
| 发表日期 | 2014-03-16 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper shows that social capital increases economic growth by raising government investment in human capital. We present a model of stochastic endogenous growth with imperfect political agency. Only some people correctly anticipate the future returns to current spending on public education. Greater social diffusion of information makes this knowledge more widespread among voters. As a result, we find it alleviates myopic political incentives to underinvest in human capital, and it helps the selection of politicians that ensure high productivity in public education. Through this mechanism, we show that social capital raises the equilibrium growth rate of output and reduces its volatility. We provide evidence consistent with the predictions of our model. Individuals with higher social capital are more informed about their government. Countries with higher social capital spend a higher share of output on public education. |
| 主题 | Development Economics ; International Macroeconomics ; Public Economics |
| 关键词 | Economic growth Education expenditures Elections Government expenditures Imperfect information Social capital |
| URL | https://cepr.org/publications/dp9891 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538725 |
| 推荐引用方式 GB/T 7714 | Giacomo Ponzetto. DP9891 Social Capital, Government Expenditures, and Growth. 2014. |
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