Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
A Fair-Cost Analysis of the Random Neighbor Sampling Method Read chapter Read first chapter

2022 | OriginalPaper | Chapter

A Networked Global Economy: The Role of Social Capital in Economic Growth

Authors : Jaime Oliver Huidobro, Alberto Antonioni, Francesca Lipari, Ignacio Tamarit

Published in: Complex Networks & Their Applications X

Publisher: Springer International Publishing

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

Understanding the drivers of economic growth is one of the fundamental questions in Economics. While the role of the factors of production—capital and labor—is well understood, the mechanisms that underpin Total Factor Productivity (TFP) are not fully determined. A number of heterogeneous studies point to the creation and transmission of knowledge, factor supply, and economic integration as key aspects; yet a need for a systematic and unifying framework still exists. Both capital and labor are embedded into a complex network structure through global supply chains and international migration, and it has been shown that the structure of global trade plays an important role in economic growth. Additionally, recent research has established a link between types of social capital and different network centralities. In this paper we explore the role of these measures of social capital as drivers of the TFP. By leveraging the EORA Multi Regional Input Output and the UN International Migration databases we build the complex network representation for capital and labor respectively. We compile a panel data set covering 155 economies and 26 years. Our results indicate that social capital in the factors of production network significantly drives economic output through TFP.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
previous chapter Marginalisation and Misperception: Perceiving Gender and Racial Wage Gaps in Ego Networks
next chapter The Role of Smart Contracts in the Transaction Networks of Four Key DeFi-Collateral Ethereum-Based Tokens
Footnotes
1
The variance inflation factor (VIF) quantifies the severity of multicollinearity in an ordinary least squares regression analysis. To calculate the VIF of every feature, we regress it against all other features and compute \(VIF_i=1/(1-R^2_i)\).
 
Literature
1.
2.
Romer, P.M.: Endogenous technological change. J. Polit. Econ. 98(5, Part 2), S71–S102 (1990)CrossRef
3.
Ramsey, F.P.: A mathematical theory of saving. Econ. J. 38(152), 543–559 (1928)CrossRef
4.
Maradana, R.P., Pradhan, R.P., Dash, S., Gaurav, K., Jayakumar, M., Chatterjee, D.: Does innovation promote economic growth? Evidence from European countries. J. Innov. Entrep. 6(1), 1 (2017)CrossRef
5.
6.
Wooster, R.B., Diebel, D.S.: Productivity spillovers from foreign direct investment in developing countries: a meta-regression analysis. Rev. Dev. Econ. 14(3), 640–655 (2010)CrossRef
7.
Bell, M., Marin, A.: Where do foreign direct investment-related technology spillovers come from in emerging economies? An exploration in argentina in the 1990s. Eur. J. Dev. Res. 16(3), 653–686 (2004)CrossRef
8.
Marin, A., Bell, M.: Technology spillovers from Foreign Direct Investment (FDI): the active role of MNC subsidiaries in Argentina in the 1990s. J. Dev. Stud. 42(4), 678–697 (2006)CrossRef
9.
Goto, A., Odagiri, H.: Building technological capabilities with or without inward direct investment: the case of Japan. Competitiveness, FDI and Technological Activity in East Asia, Cheltenham: Edward Elgar, pp. 83–102 (2003)
10.
Mayer, J.: Technology diffusion, human capital and economic growth in devaluing countries. UNCTAD Discussion Paper 154, United Nations Conference on Trade and Development (2001)
11.
Bove, V., Elia, L.: Migration, diversity, and economic growth. World Dev. 89, 227–239 (2017)CrossRef
12.
Siar, S.V.: Skilled migration, knowledge transfer and development: the case of the highly skilled Filipino migrants in New Zealand and Australia. J. Curr. Southeast Asian Affairs 30(3), 61–94 (2011)CrossRef
13.
Brunow, S., Nijkamp, P., Poot, J.: The impact of international migration on economic growth in the global economy. In: Handbook of the Economics of International Migration, vol. 1, pp. 1027–1075. Elsevier (2015)
14.
Ulubasoglu, M.A., Doucouliagos, C.: Institutions and economic growth: a systems approach. In: Econometric Society 2004, Australasian Meetings Paper No, vol. 63 (2004)
15.
Bekaert, G., Harvey, C.R., Lundblad, C.T.: Financial openness and productivity. SSRN Scholarly Paper ID 1358574, Social Science Research Network, Rochester, NY, May 2010
16.
17.
18.
Cadot, O., Carrère, C., Strauss-Kahn, V.: Export diversification: what’s behind the hump? Rev. Econ. Stat. 93, 590–605 (2011)CrossRef
19.
d’Albis, H., Boubtane, E., Coulibaly, D.: Immigration and public finances in OECD countries. J. Econ. Dyn. Control 99, 116–151 (2019)MathSciNetCrossRefMATH
20.
d’Albis, H., Boubtane, E., Coulibaly, D.: Macroeconomic evidence suggests that asylum seekers are not a “burden’’ for Western European countries. Sci. Adv. 4(6), eaaq0883 (2018)CrossRef
21.
Schweitzer, F., Fagiolo, G., Sornette, D., Vega-Redondo, F., Vespignani, A., White, D.R.: Economic networks: the new challenges. Science 325, 422–425 (2009)MathSciNetCrossRefMATH
22.
Fagiolo, G., Reyes, J., Schiavo, S.: The evolution of the world trade web: a weighted-network analysis. J. Evol. Econ. 20(4), 479–514 (2010)CrossRef
23.
Fagiolo, G., Reyes, J., Schiavo, S.: World-trade web: topological properties, dynamics, and evolution. Phys. Rev. E 79(3), 036115 (2009)MathSciNetCrossRef
24.
Todorova, Z.: Firm returns and network centrality. Risk Gov. Control Financ. Mark. Inst. 9(3), 74–82 (2019)
25.
Davis, K.F., D’Odorico, P., Laio, F., Ridolfi, L.: Global spatio-temporal patterns in human migration: a complex network perspective. PLoS ONE 8(1), e53723 (2013)CrossRef
26.
Fagiolo, G., Mastrorillo, M.: International migration network: topology and modeling. Phys. Rev. E 88(1), 012812 (2013)CrossRef
27.
Windzio, M.: The network of global migration 1990–2013: using ERGMs to test theories of migration between countries. Soc. Netw. 53, 20–29 (2018)CrossRef
28.
Jackson, M.O.: A typology of social capital and associated network measures. SSRN Electron. J. (2017)
29.
Sandim, H., Azevedo, D., da Silva, A.P.C., Moro, M.: The role of social capital in information diffusion over twitter: a study case over Brazilian posts. In BiDu-Posters@VLDB (2018)
30.
Semih Akçomak, İ., ter Weel, B.: Social capital, innovation and growth: evidence from Europe. Eur. Econ. Rev. 53(5), 544–567 (2009)
31.
Norbutas, L., Corten, R.: Network structure and economic prosperity in municipalities: a large-scale test of social capital theory using social media data. Soc. Netw. 52, 120–134 (2018)CrossRef
32.
Fafchamps, M., Minten, B.: Social capital and agricultural trade. Am. J. Agr. Econ. 83(3), 680–685 (2001)CrossRef
33.
Cobb, C.W., Douglas, P.H.: A theory of production. Am. Econ. Rev. 18(1), 139–165 (1928)
34.
Mapping the Structure of the World Economy \(|\) Environmental Science & Technology
35.
Banerjee, A., Chandrasekhar, A.G., Duflo, E., Jackson, M.O.: The diffusion of microfinance. Science 341(6144), 1–49 (2013)CrossRef
36.
Banerjee, A.V., Chandrasekhar, A.G., Duflo, E., Jackson, M.O.: Using gossips to spread information: theory and evidence from two randomized controlled trials. SSRN Scholarly Paper ID 2425379, Social Science Research Network, Rochester, NY, May 2017
37.
Kleinberg, J.M., Newman, M., Barabási, A.-L., Watts, D.J.: Authoritative Sources in a Hyperlinked Environment. Princeton University Press, Princeton (2011)CrossRef
38.
Rungi, A., Fattorini, L., Huremovic, K.: Measuring the input rank in global supply networks. arXiv:​2001.​08003 [econ, q-fin], January 2020
39.
Cerina, F., Zhu, Z., Chessa, A., Riccaboni, M.: World input-output network. PLoS ONE 10(7), e0134025 (2015)CrossRef
40.
Leontief, W.: Input-Output Economics. Oxford University Press, March 1986. Google-Books-ID: HMnQCwAAQBAJ
41.
United Nations Population Division, Department of Economic and Social Affairs. UN migration database
42.
Valente, T.W., Coronges, K., Lakon, C., Costenbader, E.: How correlated are network centrality measures? Connections (Toronto, Ont.) 28(1), 16–26 (2008)
43.
44.
Isard, W.: Location theory and trade theory: short-run analysis. Q. J. Econ. 68, 305–320 (1954)CrossRef
Metadata
Title
A Networked Global Economy: The Role of Social Capital in Economic Growth
Authors
Jaime Oliver Huidobro
Alberto Antonioni
Francesca Lipari
Ignacio Tamarit
Copyright Year
2022
Book
Complex Networks & Their Applications X

Print ISBN: 978-3-030-93408-8

Electronic ISBN: 978-3-030-93409-5

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-030-93409-5_64

Premium Partner

    Image Credits