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008			230914b |||||||| |||| 00| 0 eng d
040			_aMSU _cMSU _erda
100			_aLEIBRECHT, Markus
245			_aWhen are fiscal adjustments successful? The role of social capital
264			_aNew York _bTaylor & Francis _c2013
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aApplied Economics Letters _vVolume , number ,
520			_aHigh 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.
650			_afiscal adjustment
650			_asocial capital
650			_aprohibit estimation
700			_aSCHARLER, Johann
856			_uhttps://doi.org/10.1080/13504851.2013.829261
942			_2lcc _cJA
999			_c163258 _d163258