Economics, Econometrics and Finance
4 years ago

Investing in Social Capital Key to Economic Recovery After Capital Destruction.

1 view
Journal of Macroeconomics
Revisiting the process of aggregate growth recovery after a capital destruction
Jaime Alonso‐Carrera, Stéphane Bouché, Carlos de Miguel

Paper Summary

The article explores how economies recover after losing capital, focusing on habits and social capital. Habits are influenced by past consumption and social capital generates both market and non-market benefits. The study shows that investing in social capital early on is crucial for efficient recovery.

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