Aghion, Philippe; Algan, Yann; Cahuc, Pierre; Shleifer, … - 2009
In a cross-section of countries, government regulation is strongly negatively correlated with social capital. We …, while regulation in turn discourages social capital accumulation, leading to multiple equilibria. A key implication of the … test this and other implications of the model using country- and individual-level data on social capital and beliefs about …