Title: Social Capital: An Insight Revealed or a Concept Too Many?
Abstract: Abstract An introduction to social capital and a ‘state of the art’ analysis is provided. Attention is drawn to disagreements in use of the term, particularly between its innate and planned, individual and collective natures. It is argued that no inconsistency exists, rather it is a multifaceted concept. Alternative measurement techniques are discussed, along with pointers from historical research, and the principal economic effects of social capital. We conclude with recommendations for future research directions. Introduction The social capital concept rose to prominence during the 1990s. It has generated a broad range of reactions amongst economists from those who have heralded it as the discovery of a vital missing piece in the jigsaw of modern economic analysis to those who conclude that it is too amorphous and imprecise for economic reasoning and risks deflecting mainstream analysis down false pathways. This paper analyses the currentstate of research into social capital and, while recognising its current limitations, suggests new research agendas motivated by the concept. We begin by looking at the origins and definitions of the term, assess its claim to be a form of capital, and explain divergent interpretations of its key properties. The principal influences on the level of social capital are analysed and the various techniques used to measure it are investigated. We then overview historical trends in social capital and the economic outcomes it provides before concluding with pointers for new research agendas.
Publication Year: 2004
Publication Date: 2004-01-01
Language: en
Type: preprint
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Cited By Count: 3
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