The Mechanism of Institution and Social Capital in Economic Growth Based on the Framework of Game Theory
Is social capital a substitute or a complement to formal institutions for achieving economic growth? In order to provide an aid for thinking about the effects of institutions and social capital on economic growth,we present an investment game in an incomplete contract-setting. The major insight from our model is that social capital tends to have its greatest positive impact on the economic growth at lower levels of institutional and that the positive impact eventually vanishes if institutions become strong enough.
Institution Social capital Economic growth Investment game
WU Yong ZHU Weidong
School of Management of Hefei University of Technology, Hefei, 230009
国际会议
The Sixth International Symposium on Corporate Governance(第六届公司治理国际研讨会)
大连
英文
86-93
2011-08-20（万方平台首次上网日期，不代表论文的发表时间）