The Compensating Income Variation of Social Capital |
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Authors: | Wim Groot Henriëtte Maassen van den Brink Bernard van Praag |
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Institution: | (1) Department of Health Sciences, Maastricht University, P.O. Box 616, 6200, MD, Maastricht, The Netherlands;(2) Department of General Economics, University of Amsterdam, Roetersstraat 11, 1018 , WB, Amsterdam, The Netherlands |
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Abstract: | There is a small but growing literature on the determinants of social capital. Most of these studies use a measure of trust
to define social capital empirically. In this paper we use three different measures of social capital: the size of the individual’s
social network, the extent of their social safety net and membership of unions or associations. A second contribution to the
literature is that we analyze what social capital contributes to our well-being. Based on this, we calculate the compensating
income variation of social capital. We find differences in social capital when we differentiate according to individual characteristics
such as education, age, place of residence, household composition and health. Household income generally has a statistically
significant effect. We find a significant effect of social capital on␣life␣satisfaction. Consequently, the compensating income
variation of social capital is substantial.
Thanks to Tijl Woortman for his research assistance. |
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Keywords: | life satisfaction social capital |
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