TY  - BOOK
AU  - LEIBRECHT, Markus
AU  - SCHARLER, Johann
TI  - When are fiscal adjustments successful? The role of social capital
PY  - 2013///
CY  - New York
PB  - Taylor & Francis
KW  - fiscal adjustment
KW  - social capital
KW  - prohibit estimation
N2  - 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
UR  - https://doi.org/10.1080/13504851.2013.829261
ER  -