Implicações do capital social e do capital político no desenvolvimento econômico

Abstract

The objective of this paper is to verify empirically which variables possess robustness to explain variations in the per capita GDP. It is not to be pursued the contribution of traditional macroeconomic variables themselves, monetary or fiscal variables, but mainly the influence of institutional variables on them, consequently on growth. Endogenous growth theory is the background to support the empirical results. The methodological hypotheses are that social capital and institutional variables, for instance red tape bureaucracy, civil rights, corruption, law enforcement, external conflicts, etc, may hinder the economic growth process. In this reasoning, two analyses gathering worldwide countries and brazilian states were performed by econometric models to test the effects of those variables on the growth path of countries and states. In conclusion, it is doubtless the significance that social and institutional variables play on determining the contemporaneous stage of economic development.