A simplified endogenous economic growth model with social capital: Evidence for Ecuador

• Authors: Moreno-Hurtado Carlos Andrés , Ochoa-Jiménez Diego Alejandro , Izquierdo-Montoya Gonzalo Leonardo
• Languages of publication: EN

Abstracts

EN

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.

Keywords

EN

Endogenous economic growth; physical capital; human capital; social capital; local development

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Prague Development Center, Czech Republic
• Journal: Business and Economic Horizons
• Year: 2018
• Volume: Volume 14
• Issue: Issue 2
• Pages: 168-184

Dates

published

2018-02-22

Contributors

author

Moreno-Hurtado Carlos Andrés

• Department of Economics, Universidad Técnica Particular de Loja, Ecuador

author

Ochoa-Jiménez Diego Alejandro

• Department of Economics, Universidad Técnica Particular de Loja, Ecuador

author

Izquierdo-Montoya Gonzalo Leonardo

• Department of Economics, Universidad Técnica Particular de Loja, Ecuador

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