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"Casey, Terrence"
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Social Capital and Economic Performance in the American States
Objective. This study tests the claim that areas with higher levels of social capital have superior economic performance. Method. The 14-measure index of social capital created by Robert Putnam is reconstructed for an extended time period and integrated into cross-sectional regression models including physical capital, human capital, and other factors relevant to state economic performance. Results. The analysis shows that social capital has no discernable influence on aggregate measures of output and employment. However, it does have a positive and significant impact on measures of economic equality and employment stability. Conclusions. This study does not support the claim that social capital is a general prerequisite for prosperity, but it does suggest that it may serve to reinforce a particular mode of communitarian economic development.
Journal Article
السياسة الاقتصادية والمؤسسات والنمو الاقتصادي في عصر العولمة
يستعرض المؤلف في هذه الدراسة نظرية التطور الاقتصادي ويخلص إلى أن السياسات التي توائم السياق المؤسسي لأمة ما تبدو أكثر نجاحا من تلك السياسات التي تتضمن إعادة البناء الاجتماعي الجذري بعد ذلك يستكشف المؤلف دلالات هذه المناقشة بالنسبة إلى قدرة مختلف السياقات المؤسسية القومية على التكيف مع التغيرات التي تصاحب العولمة.
Book
Mapping stability and change in advanced capitalisms
Within the study of comparative capitalisms (CC), there is little consensus on the core traits, proper labels, or categorization of different capitalist economies. This paper seeks to clarify the discussion by constructing an empirical index that can be used to map advanced capitalist economies. The index is based on a dozen variables organized into three key domains: the organization of labor, the organization of business and the role of the state. In terms of cross-national comparison, the distribution of states largely matched theory, although with greater diversity among liberal economies and relatively less among European economies than would be expected. Over time, there has been a general movement toward liberalization with some states, such as New Zealand, liberalizing substantially. Alternately others, mainly Ireland, have actually become more coordinated. Beyond descriptive mapping, this paper also demonstrates how the CC index can be used to provide analytical leverage over questions of the taxonomy of capitalisms, the connection between models and economic performance and the relative contribution of diverse institutions toward economic performance.
Journal Article
Of Power and Plenty? Europe, Soft Power, and ‘Genteel Stagnation’
A review essay on books by (1) T. R. Reid, The United States of Europe: The New Superpower and the End of American Supremacy (Penguin, New York, 2004); (2) Mark Leonard, Why Europe Will Run the 21st Century (Fourth Estate, London, 2005); & (3) Jeremy Rifkin, The European Dream: How Europe's Vision of the Future is Quietly Eclipsing the American Dream (Tarcher/Penguin, New York, 2004). References.
Journal Article
Economic Policy, Institutions and Economic Growth in an Era of Globalization
The author surveys economic development theory and concludes that policies that conform to a nation's institutional context are likely to be more successful than those involving radical social reconstruction. The author then explores the implications of this argument for the ability of different national institutional contexts to adjust to the changes brought about by globalization.
Journal Article