The paper benefited from comments by participants at conferences in Ancona, Bento Gonçalves, Paris and Santander and at seminars held in Forlì, Rome and Trento. Mauro Sodini acknowledges that this work has been performed within the activity of the PRIN project ‘Local interactions and global dynamics in economics and finance: models and tools’, MIUR, Italy. We are grateful to two anonymous referees whose comments allowed a substantial improvement of the paper. Materials for the study of social capital, economic growth and technology are retrievable at the Social Capital Gateway, a website edited by the corresponding author of this article at the address http://www.socialcapitalgateway.org. Needless to say, the usual caveats apply.
Economic Growth, Technological Progress and Social Capital: The Inverted U Hypothesis
Article first published online: 29 JAN 2013
© 2013 John Wiley & Sons Ltd
Volume 64, Issue 3, pages 401–431, July 2013
How to Cite
Antoci, A., Sabatini, F. and Sodini, M. (2013), Economic Growth, Technological Progress and Social Capital: The Inverted U Hypothesis. Metroeconomica, 64: 401–431. doi: 10.1111/meca.12007
- Issue published online: 5 JUN 2013
- Article first published online: 29 JAN 2013
- Manuscript Revised: OCT 2012
- Manuscript Received: OCT 2011
We set up a theoretical framework to analyse the role of economic growth and technological progress in the erosion of social capital. Under certain conditions on parameters, the relationship between technological progress and social capital can take the shape of an inverted U curve. Furthermore, we show the circumstances that allow the economy to follow trajectories where the stock of social capital grows endogenously and unboundedly.