Social Capital, Sociopolitical Instability, and Economic Development: A General Equilibrium Model

IF 1.1 Q3 ECONOMICS Economics of Peace and Security Journal Pub Date : 2014-04-18 DOI:10.15355/EPSJ.9.1.19
Javier Alcántar-Toledo, Yannis P. Venieris
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Abstract

This essay describes the main features of a general equilibrium model of social capital and social conflict. According to the model, agents decide to participate in a number of conflict events while, at the same time, accumulate social capital. In the process, the government interacts with the economic actors by discouraging civil disobedience and social violence. The results show that social conflict is decreasing with the accumulation of physical capital, human capital, social capital, and government expenses on social development programs. Output growth in the economy depends positively upon accumulation of all types of capitals and social development funding, and negatively upon social conflict. More importantly, social capital is found to have a considerable positive effect on growth not only directly via investment, as suggested by recent empirical literature, but also indirectly by reducing the levels of social conflict. The model shows that the growth trajectories of the economy display a history-dependent pattern of growth with multiple-equilibria where countries converge to a nontrivial stable steady-state in the long-run. We also provide evidence in favor of the club convergence hypothesis which is predicated upon the initial levels of all types of capitals and the underlying level of social conflict.
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社会资本、社会政治不稳定与经济发展:一个一般均衡模型
本文描述了社会资本与社会冲突的一般均衡模型的主要特征。根据该模型,代理人决定参与一系列冲突事件,同时积累社会资本。在这个过程中,政府通过劝阻公民不服从和社会暴力与经济行为者互动。结果表明,社会冲突随着物质资本、人力资本、社会资本和政府在社会发展项目上的支出的积累而减少。经济产出增长积极地依赖于各类资本和社会发展资金的积累,消极地依赖于社会冲突。更重要的是,研究发现,社会资本不仅通过投资直接对经济增长产生积极影响(如最近的实证文献所示),还通过降低社会冲突水平间接对经济增长产生积极影响。该模型表明,经济的增长轨迹显示出一种历史依赖的增长模式,具有多重均衡,其中各国在长期内收敛于一个非平凡的稳定稳定状态。我们还提供了支持俱乐部收敛假设的证据,该假设基于所有类型资本的初始水平和潜在的社会冲突水平。
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发文量
7
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