Social Capital, Product Imitation and Growth with Learning Externalities

Links between social capital, human capital, and product imitation are studied in an overlapping generations model of endogenous growth where the key benefit of social capital is to promote imitation. There is also a two-way interaction between imi...

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Main Authors:	Agénor, Pierre-Richard, Dinh, Hinh T.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCESS TO SOCIAL CAPITAL ACCESS TO TELECOMMUNICATIONS ADVERSE EFFECT ADVERSE EFFECTS AGGREGATE DEMAND ALLOCATION ARBITRAGE BANK POLICY BENCHMARK BEQUESTS BINDING CONSTRAINT BONDS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUREAUCRACY BUSINESS CYCLE CAPITAL RATIO CAPITAL SHARES CAPITAL STOCK CAPITAL STOCKS CETERIS PARIBUS CHILD LABOR COLLECTIVE ACTION COMMERCIAL CONTRACTS COMMUNITY ASSOCIATIONS CONNECTIVITY CONSTANT RETURNS TO SCALE CONTRACT ENFORCEMENT DEBTS DEMAND CURVE DEMOCRACY DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMICS ELASTICITY ELASTICITY OF DEMAND ELASTICITY OF SUBSTITUTION EQUILIBRIUM EQUILIBRIUM PRICE EQUIPMENT EXPENDITURE EXPORTS EXTERNALITIES EXTERNALITY FINANCES FINANCIAL DEVELOPMENT FINANCIAL SUPPORT FISCAL POLICY FULL EMPLOYMENT GDP GLOBAL ECONOMIC PROSPECTS GOVERNMENT BUDGET GOVERNMENT INVESTMENT GOVERNMENT REVENUES GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING HOUSEHOLD BARGAINING HUMAN CAPITAL IMPERFECT COMPETITION INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDUSTRIAL COUNTRIES INFORMATION ASYMMETRIES INFORMATION SHARING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSURANCE INTANGIBLE INTELLECTUAL PROPERTY INTERNATIONAL BANK INTERNATIONAL ECONOMICS INVESTING INVESTMENT FLOWS INVESTMENT STRATEGIES KNOWLEDGE EXTERNALITIES LABOR HOURS LABOR MARKET LEGAL SYSTEM LIFE EXPECTANCY LOW-INCOME COUNTRIES LOW-INCOME COUNTRY LOW-INCOME ECONOMY MACROECONOMICS MARGINAL COST MARGINAL COST OF PRODUCTION MARGINAL PRODUCT MARGINAL REVENUE MONETARY FUND MONOPOLY NEGATIVE EXTERNALITY NEIGHBORHOODS NEW PRODUCTS OPTIMIZATION OUTPUT OVERLAPPING GENERATIONS MODEL PATENTS PHYSICAL CAPITAL POLITICAL ECONOMY POLITICAL INSTITUTIONS POSITIVE EXTERNALITIES POSITIVE EXTERNALITY PRICE ELASTICITY PRIVATE CAPITAL PRIVATE CAPITAL STOCK PRIVATE INVESTMENT PRIVATE SAVINGS PRODUCTION FUNCTION PRODUCTION INPUTS PRODUCTION STRUCTURE PRODUCTIVITY PROPERTY RIGHTS PUBLIC GOOD PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC POLICY PUBLIC SPENDING RATE OF RETURN REAL GDP RETURNS SAVINGS SAVINGS RATE SOCIAL CAPITAL SOCIAL CAPITAL ACCUMULATION SOCIAL INTERACTIONS SOCIAL NETWORKS SOCIAL NORMS SOCIAL ORGANIZATIONS SOCIAL RELATIONSHIPS SOCIAL STRUCTURE SOCIAL VALUES SPECIALIZATION TAX TAX RATE TAX REVENUES TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TRADE ASSOCIATIONS TRADE-OFF TRADES TRADING TRANCHES URBANIZATION WAGES
Online Access:	http://documents.worldbank.org/curated/en/2013/09/18265391/social-capital-product-imitation-growth-learning-externalities http://hdl.handle.net/10986/15824

id	okr-10986-15824
recordtype	oai_dc
spelling	okr-10986-158242021-04-23T14:03:27Z Social Capital, Product Imitation and Growth with Learning Externalities Agénor, Pierre-Richard Dinh, Hinh T. ACCESS TO SOCIAL CAPITAL ACCESS TO TELECOMMUNICATIONS ADVERSE EFFECT ADVERSE EFFECTS AGGREGATE DEMAND ALLOCATION ARBITRAGE BANK POLICY BENCHMARK BEQUESTS BINDING CONSTRAINT BONDS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUREAUCRACY BUSINESS CYCLE CAPITAL RATIO CAPITAL SHARES CAPITAL STOCK CAPITAL STOCKS CETERIS PARIBUS CHILD LABOR COLLECTIVE ACTION COMMERCIAL CONTRACTS COMMUNITY ASSOCIATIONS CONNECTIVITY CONSTANT RETURNS TO SCALE CONTRACT ENFORCEMENT DEBTS DEMAND CURVE DEMOCRACY DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMICS ELASTICITY ELASTICITY OF DEMAND ELASTICITY OF SUBSTITUTION EQUILIBRIUM EQUILIBRIUM PRICE EQUIPMENT EXPENDITURE EXPORTS EXTERNALITIES EXTERNALITY FINANCES FINANCIAL DEVELOPMENT FINANCIAL SUPPORT FISCAL POLICY FULL EMPLOYMENT GDP GLOBAL ECONOMIC PROSPECTS GOVERNMENT BUDGET GOVERNMENT INVESTMENT GOVERNMENT REVENUES GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING HOUSEHOLD BARGAINING HUMAN CAPITAL IMPERFECT COMPETITION INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDUSTRIAL COUNTRIES INFORMATION ASYMMETRIES INFORMATION SHARING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSURANCE INTANGIBLE INTELLECTUAL PROPERTY INTERNATIONAL BANK INTERNATIONAL ECONOMICS INVESTING INVESTMENT FLOWS INVESTMENT STRATEGIES KNOWLEDGE EXTERNALITIES LABOR HOURS LABOR MARKET LEGAL SYSTEM LIFE EXPECTANCY LOW-INCOME COUNTRIES LOW-INCOME COUNTRY LOW-INCOME ECONOMY MACROECONOMICS MARGINAL COST MARGINAL COST OF PRODUCTION MARGINAL PRODUCT MARGINAL REVENUE MONETARY FUND MONOPOLY NEGATIVE EXTERNALITY NEIGHBORHOODS NEW PRODUCTS OPTIMIZATION OUTPUT OVERLAPPING GENERATIONS MODEL PATENTS PHYSICAL CAPITAL POLITICAL ECONOMY POLITICAL INSTITUTIONS POSITIVE EXTERNALITIES POSITIVE EXTERNALITY PRICE ELASTICITY PRIVATE CAPITAL PRIVATE CAPITAL STOCK PRIVATE INVESTMENT PRIVATE SAVINGS PRODUCTION FUNCTION PRODUCTION INPUTS PRODUCTION STRUCTURE PRODUCTIVITY PROPERTY RIGHTS PUBLIC GOOD PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC POLICY PUBLIC SPENDING RATE OF RETURN REAL GDP RETURNS SAVINGS SAVINGS RATE SOCIAL CAPITAL SOCIAL CAPITAL ACCUMULATION SOCIAL INTERACTIONS SOCIAL NETWORKS SOCIAL NORMS SOCIAL ORGANIZATIONS SOCIAL RELATIONSHIPS SOCIAL STRUCTURE SOCIAL VALUES SPECIALIZATION TAX TAX RATE TAX REVENUES TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TRADE ASSOCIATIONS TRADE-OFF TRADES TRADING TRANCHES URBANIZATION WAGES Links between social capital, human capital, and product imitation are studied in an overlapping generations model of endogenous growth where the key benefit of social capital is to promote imitation. There is also a two-way interaction between imitation and human capital. Building social capital (which brings direct utility) requires time. Because life expectancy is endogenously related to human capital, time allocation between market work and social capital accumulation is also endogenously determined. Social capital accumulation depends also on access to infrastructure. The model is calibrated numerically for a low-income country. A policy that helps to promote social capital accumulation may be very effective to foster economic growth, even if it involves offsetting cuts in other productive components of government spending, such as education outlays or infrastructure investment. Offsetting cuts in infrastructure investment, however, may be less effective. 2013-09-25T20:33:34Z 2013-09-25T20:33:34Z 2013-09 http://documents.worldbank.org/curated/en/2013/09/18265391/social-capital-product-imitation-growth-learning-externalities http://hdl.handle.net/10986/15824 English en_US Policy Research Working Paper;No. 6607 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO SOCIAL CAPITAL ACCESS TO TELECOMMUNICATIONS ADVERSE EFFECT ADVERSE EFFECTS AGGREGATE DEMAND ALLOCATION ARBITRAGE BANK POLICY BENCHMARK BEQUESTS BINDING CONSTRAINT BONDS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUREAUCRACY BUSINESS CYCLE CAPITAL RATIO CAPITAL SHARES CAPITAL STOCK CAPITAL STOCKS CETERIS PARIBUS CHILD LABOR COLLECTIVE ACTION COMMERCIAL CONTRACTS COMMUNITY ASSOCIATIONS CONNECTIVITY CONSTANT RETURNS TO SCALE CONTRACT ENFORCEMENT DEBTS DEMAND CURVE DEMOCRACY DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMICS ELASTICITY ELASTICITY OF DEMAND ELASTICITY OF SUBSTITUTION EQUILIBRIUM EQUILIBRIUM PRICE EQUIPMENT EXPENDITURE EXPORTS EXTERNALITIES EXTERNALITY FINANCES FINANCIAL DEVELOPMENT FINANCIAL SUPPORT FISCAL POLICY FULL EMPLOYMENT GDP GLOBAL ECONOMIC PROSPECTS GOVERNMENT BUDGET GOVERNMENT INVESTMENT GOVERNMENT REVENUES GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING HOUSEHOLD BARGAINING HUMAN CAPITAL IMPERFECT COMPETITION INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDUSTRIAL COUNTRIES INFORMATION ASYMMETRIES INFORMATION SHARING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSURANCE INTANGIBLE INTELLECTUAL PROPERTY INTERNATIONAL BANK INTERNATIONAL ECONOMICS INVESTING INVESTMENT FLOWS INVESTMENT STRATEGIES KNOWLEDGE EXTERNALITIES LABOR HOURS LABOR MARKET LEGAL SYSTEM LIFE EXPECTANCY LOW-INCOME COUNTRIES LOW-INCOME COUNTRY LOW-INCOME ECONOMY MACROECONOMICS MARGINAL COST MARGINAL COST OF PRODUCTION MARGINAL PRODUCT MARGINAL REVENUE MONETARY FUND MONOPOLY NEGATIVE EXTERNALITY NEIGHBORHOODS NEW PRODUCTS OPTIMIZATION OUTPUT OVERLAPPING GENERATIONS MODEL PATENTS PHYSICAL CAPITAL POLITICAL ECONOMY POLITICAL INSTITUTIONS POSITIVE EXTERNALITIES POSITIVE EXTERNALITY PRICE ELASTICITY PRIVATE CAPITAL PRIVATE CAPITAL STOCK PRIVATE INVESTMENT PRIVATE SAVINGS PRODUCTION FUNCTION PRODUCTION INPUTS PRODUCTION STRUCTURE PRODUCTIVITY PROPERTY RIGHTS PUBLIC GOOD PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC POLICY PUBLIC SPENDING RATE OF RETURN REAL GDP RETURNS SAVINGS SAVINGS RATE SOCIAL CAPITAL SOCIAL CAPITAL ACCUMULATION SOCIAL INTERACTIONS SOCIAL NETWORKS SOCIAL NORMS SOCIAL ORGANIZATIONS SOCIAL RELATIONSHIPS SOCIAL STRUCTURE SOCIAL VALUES SPECIALIZATION TAX TAX RATE TAX REVENUES TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TRADE ASSOCIATIONS TRADE-OFF TRADES TRADING TRANCHES URBANIZATION WAGES
spellingShingle	ACCESS TO SOCIAL CAPITAL ACCESS TO TELECOMMUNICATIONS ADVERSE EFFECT ADVERSE EFFECTS AGGREGATE DEMAND ALLOCATION ARBITRAGE BANK POLICY BENCHMARK BEQUESTS BINDING CONSTRAINT BONDS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUREAUCRACY BUSINESS CYCLE CAPITAL RATIO CAPITAL SHARES CAPITAL STOCK CAPITAL STOCKS CETERIS PARIBUS CHILD LABOR COLLECTIVE ACTION COMMERCIAL CONTRACTS COMMUNITY ASSOCIATIONS CONNECTIVITY CONSTANT RETURNS TO SCALE CONTRACT ENFORCEMENT DEBTS DEMAND CURVE DEMOCRACY DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMICS ELASTICITY ELASTICITY OF DEMAND ELASTICITY OF SUBSTITUTION EQUILIBRIUM EQUILIBRIUM PRICE EQUIPMENT EXPENDITURE EXPORTS EXTERNALITIES EXTERNALITY FINANCES FINANCIAL DEVELOPMENT FINANCIAL SUPPORT FISCAL POLICY FULL EMPLOYMENT GDP GLOBAL ECONOMIC PROSPECTS GOVERNMENT BUDGET GOVERNMENT INVESTMENT GOVERNMENT REVENUES GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING HOUSEHOLD BARGAINING HUMAN CAPITAL IMPERFECT COMPETITION INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDUSTRIAL COUNTRIES INFORMATION ASYMMETRIES INFORMATION SHARING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INSURANCE INTANGIBLE INTELLECTUAL PROPERTY INTERNATIONAL BANK INTERNATIONAL ECONOMICS INVESTING INVESTMENT FLOWS INVESTMENT STRATEGIES KNOWLEDGE EXTERNALITIES LABOR HOURS LABOR MARKET LEGAL SYSTEM LIFE EXPECTANCY LOW-INCOME COUNTRIES LOW-INCOME COUNTRY LOW-INCOME ECONOMY MACROECONOMICS MARGINAL COST MARGINAL COST OF PRODUCTION MARGINAL PRODUCT MARGINAL REVENUE MONETARY FUND MONOPOLY NEGATIVE EXTERNALITY NEIGHBORHOODS NEW PRODUCTS OPTIMIZATION OUTPUT OVERLAPPING GENERATIONS MODEL PATENTS PHYSICAL CAPITAL POLITICAL ECONOMY POLITICAL INSTITUTIONS POSITIVE EXTERNALITIES POSITIVE EXTERNALITY PRICE ELASTICITY PRIVATE CAPITAL PRIVATE CAPITAL STOCK PRIVATE INVESTMENT PRIVATE SAVINGS PRODUCTION FUNCTION PRODUCTION INPUTS PRODUCTION STRUCTURE PRODUCTIVITY PROPERTY RIGHTS PUBLIC GOOD PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC POLICY PUBLIC SPENDING RATE OF RETURN REAL GDP RETURNS SAVINGS SAVINGS RATE SOCIAL CAPITAL SOCIAL CAPITAL ACCUMULATION SOCIAL INTERACTIONS SOCIAL NETWORKS SOCIAL NORMS SOCIAL ORGANIZATIONS SOCIAL RELATIONSHIPS SOCIAL STRUCTURE SOCIAL VALUES SPECIALIZATION TAX TAX RATE TAX REVENUES TECHNOLOGICAL CHANGE TELECOMMUNICATIONS TRADE ASSOCIATIONS TRADE-OFF TRADES TRADING TRANCHES URBANIZATION WAGES Agénor, Pierre-Richard Dinh, Hinh T. Social Capital, Product Imitation and Growth with Learning Externalities
relation	Policy Research Working Paper;No. 6607
description	Links between social capital, human capital, and product imitation are studied in an overlapping generations model of endogenous growth where the key benefit of social capital is to promote imitation. There is also a two-way interaction between imitation and human capital. Building social capital (which brings direct utility) requires time. Because life expectancy is endogenously related to human capital, time allocation between market work and social capital accumulation is also endogenously determined. Social capital accumulation depends also on access to infrastructure. The model is calibrated numerically for a low-income country. A policy that helps to promote social capital accumulation may be very effective to foster economic growth, even if it involves offsetting cuts in other productive components of government spending, such as education outlays or infrastructure investment. Offsetting cuts in infrastructure investment, however, may be less effective.
format	Publications & Research :: Policy Research Working Paper
author	Agénor, Pierre-Richard Dinh, Hinh T.
author_facet	Agénor, Pierre-Richard Dinh, Hinh T.
author_sort	Agénor, Pierre-Richard
title	Social Capital, Product Imitation and Growth with Learning Externalities
title_short	Social Capital, Product Imitation and Growth with Learning Externalities
title_full	Social Capital, Product Imitation and Growth with Learning Externalities
title_fullStr	Social Capital, Product Imitation and Growth with Learning Externalities
title_full_unstemmed	Social Capital, Product Imitation and Growth with Learning Externalities
title_sort	social capital, product imitation and growth with learning externalities
publisher	World Bank, Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2013/09/18265391/social-capital-product-imitation-growth-learning-externalities http://hdl.handle.net/10986/15824
_version_	1764432083731611648

Social Capital, Product Imitation and Growth with Learning Externalities

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