The Productivity of Trust

Bjørnskov, Christian; Méon, Pierre-Guillaume

doi:10.1016/j.worlddev.2015.01.015

Cited by 112 publications

(121 citation statements)

References 91 publications

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“…Their results suggest that per capita GDP and TFP levels are mainly determined by the quality of institutions. Coming to the importance of social trust for TFP growth, Bjornskov and Meon (2015) report a significant and positive impact on TFP growth, where the impact is realized through economic institutions rather than political institutions.…”

Section: Drivers Of Mfp: a Thematic Review Of Literaturementioning

confidence: 99%

Measurement and Determinants of Multi‐factor Productivity: A Survey of Literature

Ahmed

Bhatti

2020

Journal of Economic Surveys

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This paper surveys and synthesizes fast‐growing literature on the measurement and determinants of multi‐factor productivity (MFP). We identify three strands of the literature to measure MFP: the first is growth accounting, which decomposes observed economic growth into the contribution of factor inputs and technological change, called the Solow Residual; the second is index number methods, accompanied by frontier techniques; the third is growth regressions and econometric methods used to estimate productivity across countries and regions. We keep our focus on assessing the major strengths and weaknesses of commonly used methods for MFP measurement and categorize existing literature on the determinants of MFP growth into macroeconomic and institutional factors. We attempt to provide a reassessment and thematic survey of literature on the drivers of aggregate productivity, enabling policymakers to formulate effective economic policy.

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Section: Drivers Of Mfp: a Thematic Review Of Literaturementioning

confidence: 99%

Measurement and Determinants of Multi‐factor Productivity: A Survey of Literature

Ahmed

Bhatti

2020

Journal of Economic Surveys

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“…Another important link is through investment that increases with the confidence of investors in the enforcement of contracts (Schneider et al, 2000;Peiro-Palomino and TortosaAusina, 2015). Other channels including education (Papagapitos and Riley, 2009), financial development (Guiso et al, 2004), productivity through economic-judicial institutions (Bjornskov and Meon, 2015) and innovation (Dakhli and de Celercq, 2004;Akçomak and ter Weel, 2009;Doh and Acs, 2010;Akçomak and Müller-Zick, 2015) are also suggested.…”

Section: Conceptual Framework On Social Capital and Entrepreneurshipmentioning

confidence: 99%

The Role of Social Capital in Understanding Entrepreneurship

Gürel¹

2018

Ekonomik Yaklasim

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“…Knack and Keefer (1997) maintain that social capital is related to cultural norm and that historical data on education and literacy, therefore, should be significant in predicting social capital. Bjørnskov and Méon (2015) argue that, historically, people have needed more mutual cooperation to survive in cold regions. Therefore, temperature is closely related to trust and reciprocity.…”

Section: Chinamentioning

confidence: 99%

“…1 Finally, trust in most people was used as the fifth indicator. As summarized by Bjørnskov and Méon (2015), a higher level of generalized trust prevents individuals or organizations from expropriation and contributes to mutually beneficial actions. Second, Chinese samples in the WVS are divided into three regions (east, west and middle China) and it is not possible to conduct empirical research at provincial level.…”

Section: Datasets and Measurements Of Social Capitalmentioning

confidence: 99%

“…To investigate the relationship between social capital and TFP, the next step is to estimate the TFP value. Our strategy is similar to Bjørnskov and Méon (2015), who investigate the relationship between TFP and trust using WVS data. The TFP value can be obtained by disaggregating a production function or employing a state space model with a latent variable approach.…”

Section: Empirical Strategymentioning

confidence: 99%

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Social Capital and Total Factor Productivity: Evidence from Chinese Provinces

Xiong

Westlund

et al. 2017

China and World Economy

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The impact of social capital on economic development has been broadly studied by scholars. However, research in the Chinese context is relatively rare. Drawing upon data from the China General Social Survey, our results suggest that the enhancing effect of social capital on total factor productivity is very limited in the case of China. The network dimension of social capital is significant only in pooled OLS estimations, and trust as well as the participation dimension of social capital exert no impact across all estimations. Our interpretation is that this is partly due to the fact that trust, values and norms formed in civil society are inherently difficult to transmit to the market sector.Besides, the impact of social capital on economic performance is undermined when physical capital plays a significant role in production. We therefore propose that the effect of social capital on economic performance is contingent on localized social and economic conditions.

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The Productivity of Trust

Cited by 112 publications

References 91 publications

Measurement and Determinants of Multi‐factor Productivity: A Survey of Literature

Measurement and Determinants of Multi‐factor Productivity: A Survey of Literature

The Role of Social Capital in Understanding Entrepreneurship

Social Capital and Total Factor Productivity: Evidence from Chinese Provinces

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