The Capitals of Nations: The Role of Human, Social, and Institutional Capital in Economic Evolution

ISBN : 9780199452736

Lalita Som
312 Pages
149 x 223 mm
Pub date
Jan 2015
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Theories of economic growth focused on physical capital and its diffusion till the 1950s. Since then, increasing attention has been paid to the role and utility of knowledge, human capital, governance, institutions, and social capital as critical dimensions in determining economic growth and evolution. Focusing on the three forms of intangible capital-human, social, and institutional capital-this book looks at their dynamic linkages as crucial determinants of economic growth and their significance in the process of economic evolution. The author brings out this linkage at the macro level through case studies such as the growth experiences of Britain and America during the Industrial Revolution, Japan's high growth post-WWII and its recent lackadaisical growth experiences, and the contemporary growth experiences of China and India. The author presents an analysis of the interaction between the three intangible capitals at the firm level to explain the micro phenomenon.


Foreword by Percy S. Mistry
Human, Social, and Institutional Capital
I Theoretical Framework
1 Analytical Framework
2 Human Capital
3 Social Capital
4 Institutional Capital
5 The Relationship between Human, Social, and Institutional capital
II Case Studies
6 Industrial Revolution in Britain
7 Early Industrial Revolution in America
8 Japan's Growth Experience: Post-Second World War and Recent Times
9 China: The Manufacturing Sector
10 India: The Services Sector
III Micro Analysis
11 Theory of the Firm
IV Conclusion
12 Concluding Comments
Appendix A.1
Appendix A.2
About the Author

About the author: 

Lalita Som has worked for the Organisation for Economic Co-operation and Development (OECD), Paris as well as the Commonwealth Secretariat, London.

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