| Author: | Francois, P. Zabojnik, J. |
| Title: | Trust, social capital, and economic development |
| Journal: | Journal of the European Economic Association
2005 : MAR, VOL. 3:1, p. 51-94 |
| Index terms: | capital economic development models trust |
| Language: | eng |
| Abstract: | This paper discusses how the elements of a society's norms, culture or social capital could be captured in economic models. The authors investigate a possible role for "trustworthiness" as corresponding to social capital. Individuals are trustworthy when they perform in accordance with promises, even if this does not maximize their payoffs. The model developed endogenously accounts for social capital and explores its role in the process of economic development. |
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