When are fiscal adjustments successful? The role of social capital

By:

LEIBRECHT, Markus

Contributor(s):

SCHARLER, Johann

Material type: Text

TextSeries: Applied Economics Letters ; Volume , number ,New York Taylor & Francis 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

Subject(s):

Online resources:

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Summary: High levels of social capital, by fostering cooperation and coordination, have direct implications for the intensity of collective action problems in a society. While it has been shown that high levels of social capital facilitate the implementation of institutional reforms we argue that the extent of social capital also determines the success of reforms. Specifically, we analyse fiscal adjustments in a sample of OECD countries and find that higher levels of social capital significantly increase the probability that adjustments are associated with persistent declines in debt-to-GDP ratios.

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Item type	Current library	Call number	Vol info	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB1.A666 APP (Browse shelf(Opens below))	Vol.20 , No.16 - 18 (Dec 2013)	Not for loan	For In House Use Only

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High levels of social capital, by fostering cooperation and coordination, have direct implications for the intensity of collective action problems in a society. While it has been shown that high levels of social capital facilitate the implementation of institutional reforms we argue that the extent of social capital also determines the success of reforms. Specifically, we analyse fiscal adjustments in a sample of OECD countries and find that higher levels of social capital significantly increase the probability that adjustments are associated with persistent declines in debt-to-GDP ratios.

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