The role of social capital in financial development
成果类型：
Article
署名作者：
Guiso, L; Sapienza, P; Zingales, L
署名单位：
Northwestern University; University of Chicago
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/0002828041464498
发表日期：
2004
页码：
526-556
关键词：
摘要：
To identify the effect of social capital on financial development, we exploit social capital differences within Italy. In high-social-capital areas, households are more likely to use checks, invest less in cash and more in stock, have higher access to institutional credit, and make less use of informal credit. The effect of social capital is stronger where legal enforcement is weaker and among less educated people. These results are not driven by omitted environmental variables, since we show that the behavior of movers is still affected by the level of social capital of the province where they were born.