A simplified endogenous economic growth model with social capital: Evidence for Ecuador
Journal Title: Business and Economic Horizons - Year 2018, Vol 14, Issue 2
Abstract
The paper presents a simplified economic growth model with social capital, as an alternative for sustained long-term growth. The intuition behind the model suggests its application for developing economies that historically have focused their attention on the accumulation of physical capital and not on endogenous factors such as human capital and social capital. The model is considered as a Cobb-Douglas production function that includes three types of capital: physical, human and social. From the model, we obtain evidence from estimates for the Ecuadorian economy in the period 1980-2015, which underlie the main endogenous sources regarding physical capital. As a result, some policy implications are highlighted.
Authors and Affiliations
Carlos Andres Moreno-Hurtado, Diego Alejandro Ochoa-Jimenez, Gonzalo Leonardo Izquierdo-Montoya
Keywords
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- EP ID EP442202
- DOI 10.15208/beh.2018.14
- Views 92
- Downloads 0
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