Actual Problems of
Economics and Law




DOI: 10.21202/1993-047X.10.2016.4.66-76

скачать PDF

Authors :
1. Timur V. Kramin, Doctor of Economics, Professor, Vice Rector on Corporate Management, Director of the Scientific-Research Institute for the Issues of Social-Economic Development, Head of the Department of Finance Management
Kazan Innovative University named after V. G. Timiryasov (IEML)

2. Ruslan A. Grigoryev, Philosophy Doctor in Economics (Great Britain), Deputy Director of the Scientific-Research Institute for the Issues of Social-Economic Development
Kazan Innovative University named after V. G. Timiryasov (IEML)

3. Asiya V. Timiryasova, PhD (Economics), Associate Professor, Rector
Kazan Innovative University named after V. G. Timiryasov (IEML)

4. Liliya V. Vorontsova, PhD (Economics), Associate Professor, Vice Rector on Strategic Development
Kazan Innovative University named after V. G. Timiryasov (IEML)

The contribution of the intellectual and social capital in economic growth of Russian regions

Objective: to estimate the impact of the social and human capital on the economic growth, basing on the data of the Russian regions.

Methods: econometric modeling of economic growth based on the Mankiw-Romer-Weill model and its specification proposed by Ishise and Sawada, Nonneman and Vanhoudt.

Results: the paper estimates the aggregate input of intellectual and social capitals of the Russian region. For this purpose, we apply, similarly to Ishise and Sawada, Nonneman and Vanhoudt, the augmented version of the Mankiw-Romer-Weill model, including social capital as an additional production input. Besides, we substitute the human capital for intellectual capital in this model. The estimated elasticity of the intellectual and social capitals is approximately 0.163 and 0.177 respectively.

Scientific novelty: it is proved that the intellectual and social capital of the Russian regions positively affects their economic growth. The contribution of the intellectual and social capital into the total DRP (by the elasticity of the production function) is equivalent to the contribution of physical capital (0.346). The contribution of physical capital is comparable with the contribution of the economically active population (labor force), and constitutes 0.379.

Practical significance: the conclusions of the article can be used to ground the role of intellectual and social capital for the development of the Russian regions, and to determine their contribution into the country’s economic growth.

Keywords :

Mathematical and instrumental methods of economics; Robert Solow’s model of economic growth; Cobb – Douglas production function; Social capital; Intellectual capital; Economic growth; Economy of Region

Bibliography :

1. Krasilova, A. N. Social capital as a tool for analyzing the inequality in the Russian society, Mir Rossii. Sotsiologiya. Etnologiya, 2007, vol. 16, No. 4 (in Russ.).
2. Gimbatov, Sh. M. Economic development in multi-ethnic regions, Voprosy strukturizatsii ekonomiki, 2011, No. 3 (in Russ.).
3. Kotyrlo, E. S. Social capital as a condition of development of the human capital. Northern regions, Znanie. Ponimanie. Umenie, 2010, No. 1 (in Russ.).
4. Coleman, J. S. Norms as social capital, Economic imperialism, 1987, pp. 133–155.
5. Coleman, J. S. Social capital in the creation of human capital, American Journal of Sociology, 1988, vol. 94, pp. S95-S120.
6. Putnam, R. D. Tuning in, tuning out: The strange disappearance of social capital in America, PS: Political science & politics, 1995, vol. 28, No. 04, pp. 664–683.

7. Putnam, R. D. Bowling alone: America's declining social capital, Journal of Democracy, 1995, vol. 6, No. 1, pp. 65–78.
8. Putnam, R. D., Leonardi, R., Nanetti, R. Y. Making democracy work: Civic traditions in modern Italy, Princeton university press, 1993, 280 p.
9. Bourdieu, P. Le capital social, Actes de la recherche en sciences socials, 1980, vol. 31, No. 1, pp. 2–3.
10. Bourdieu, P. The forms of capital, Handbook of Theory and Research for the Sociology of Education, New York, NY: Greenwood Press, 1986, pp. 46–58.
11. Ishise, H., Sawada, Y. Aggregate returns to social capital: Estimates based on the augmented  augmented-Solow model, Journal of Macroeconomics, 2009, vol. 31, No. 3, pp. 376–393.
12. Denison, E. F. Sources of economic growth in the United States and the alternatives before us, 1962.
13. Jones, C. Introduction To Economic Growth, 2nd Edition, 1998.
14. Jones, C. I. R & D-based models of economic growth, Journal of Political Economy, 1995, pp. 759–784.
15. Jones, C. I. Sources of US economic growth in a world of ideas, The American Economic Review, 2002, vol. 92, No. 1, pp. 220–239.
16. Lucas, R. E. On the mechanics of economic development, Journal of Monetary Economics, 1988, vol. 22, No. 1, pp. 3–42.
17. A contribution to the empirics of economic growth, National Bureau of Economic Research, 1990.
18. Kaldor, N., Robinson, J. Industrialization in Developing Countries, Cambridge (UK): Cambridge Overseas Study Committee, 1965.
19. Glaz'ev, S. World economic crisis as a process of substituting the dominating technological setups, Voprosy ekonomiki, 2009, No. 3, pp. 26–38 (in Russ.).
20. L'vov, D., Glaz'ev, S. Theoretical and applied aspects of managing the scientific-technical progress, Ekonomika i matematicheskie metody, 1986, No. 5, pp. 793–804 (in Russ.).
21. Evstigneeva, L. P., Evstigneev, R. N. Economic growth: liberal alternative, 2005 (in Russ.).
22. De Soto, H. The other path: The informal revolution, New York, 1989.
23. Princes and merchants: European city growth before the industrial revolution, National Bureau of Economic Research, 1993.
24. Besley, T. Nonmarket institutions for credit and risk sharing in low-income countries, The Journal of Economic Perspectives, 1995, vol. 9, No. 3, pp. 115–127.
25. Knack, S., Keefer, P. Institutions and economic performance: cross-country tests using alternative institutional measures, Economics & Politics, 1995, vol. 7, No. 3, pp. 207–227.
26. Easterly, W., Levine, R. Tropics, germs, and crops: how endowments influence economic development, Journal of monetary economics, 2003, vol. 50, No. 1, pp. 3–39.
27. Easterly, W., Levine, R. Africa's growth tragedy: policies and ethnic divisions, The Quarterly Journal of Economics, 1997, pp. 1203–1250.
28. Acemoglu, D., Robinson, A. The Colonial Origins of Comparative Development: An Empirical Investigation, The American Economic Review, 2001, vol. 91, No. 5, pp. 1369–1401.
29. Rodrik, D., Subramanian, A., Trebbi, F. Institutions rule: the primacy of institutions over geography and integration in economic development, Journal of economic growth, 2004, vol. 9, No. 2, pp. 131–165.
30. Glaeser, E. L., La Porta, R., Lopez-de-Silanes, F., Shleifer, A. Do institutions cause growth?, Journal of Economic Growth, 2004, vol. 9, No. 3, pp. 271–303.
31. Djankov, S., Glaeser, E., La Porta, R., Lopez-de-Silanes, F., Shleifer, A. The new comparative economics, Journal of Comparative Economics, 2003, vol. 31, No. 4, pp. 595–619.
32. Rodrik, D. One economics, many recipes: globalization, institutions and economic growth, Princeton University Press, 2008.
33. Dinda, S. Social capital in the creation of human capital and economic growth: A productive consumption approach, The Journal of Socio-Economics, 2008, vol. 37, No. 5, pp. 2020–2033.
34. Mankiw, G. N., Romer, D., Weil, D. N. A contribution to the empirics of economic growth, Quarterly Journal of Economics, 1992, vol. 107, No. 2, pp. 407–437.
35. Solow, R. M. A contribution to the theory of economic growth, The Quarterly Journal of Economics, 1956, pp. 65–94.
36. Swan, T. W. Economic growth and capital accumulation, Economic Record, 1956, vol. 32, No. 2, pp. 334–361.
37. Shtertser, T. Role of human capital in economic development of the Russian regions, Novosibirskii gosudarstvennyi universitet, 2006 (in Russ.).
38. Komarova, A., Pavshok, O. Estimating the contribution of the human capital into the economic groth of the Russian regions (based on the Mankiw – Romer – Weil model), Novosibirskii gosudarstvennyi universitet, 2007 (in Russ.).
39. Cherkasova, T. P. Administrative recourse as a component of institutional-innovative model of economic growth, Vlast', 2011, No. 01 (in Russ.).
40. Kazakova, M. The Analysis of Foreign Experience in The Field of Decomposition Economic Growth on the Basis of an Assessment Production Functions), available at: SSRN 2259224. 2013 (in Russ.).
41. Nonneman, W., Vanhoudt, P. A further augmentation of the Solow model and the empirics of economic growth for OECD countries, The Quarterly Journal of Economics, 1996, vol. 111, No. 3, pp. 943–953.
42. Brooking, A. Intellectual capital. Cengage Learning EMEA, 1996.
43. Stewart, T. A. Intellectual Capital, BUSINESS Essential Bloomsbury Publishing, 2015, pp. 704.
44. Barro, R. J. Determinants of economic growth: a cross-country empirical study (No. w5698), National Bureau of Economic Research, 1996, 118 p.
45. Barro, R. J., Lee, J. W. International data on educational attainment: updates and implications, Oxford Economic Papers, 2001, vol. 53, No. 3, pp. 541–563.
46. Annabi, N., Harvey, S., Lan, Y. Public expenditures on education, human capital and growth in Canada: An OLG model analysis, Journal of Policy Modeling, 2011, vol. 33, No. 6, pp. 852–865.
47. Blankenau, W. F., Simpson, N. B., Tomljanovich, M. Public education expenditures, taxation, and growth: Linking data to theory, The American Economic Review, 2007, vol. 97, No. 2, pp. 393–397.

48. Lindahl, M., Krueger, A. B. Education for Growth: Why and for Whom?, Journal of Economic Literature, 2001, vol. 39, No. 4, pp. 1101–1136.
49. Lichtenberg, F. R., Siegel, D. The impact of R&D investment on productivity – New evidence using linked R&D–LRD data, Economic inquiry, 1991, vol. 29, No. 2, pp. 203–229.
50. Arrow, K. J. The economic implications of learning by doing, Springer, 1971.
51. Razin, A. Optimum investment in human capital, The Review of Economic Studies, 1972, vol. 39, No. 4, pp. 455–460.
52. Blackburn, K., Hung, V. T., Pozzolo, A. F. Research, development and human capital accumulation, Journal of Macroeconomics, 2000, vol. 22, No. 2, pp. 189–206.
53. Brynjolfsson, E., Hitt, L. Paradox lost? Firm-level evidence on the returns to information systems spending, Management Science, 1996, vol. 42, No. 4, pp. 541–558.
54. Greenana, N., Mairesse, J. Computers And Productivity In France: Some Evidence, Economics of Innovation and New Technology, 2000, vol. 9, No. 3, pp. 275–315.
55. Lehr, W., Lichtenberg, F. R. Computer use and productivity growth in US federal government agencies, 1987–92, The Journal of Industrial Economics, 1998, vol. 46, No. 2, pp. 257–279.
56. McGuckin, R. H., Stiroh, K. J. Computers and productivity: are aggregation effects important?, Economic Inquiry, 2002, vol. 40, No. 1, pp. 42–59.
57. Gera, S., Gu, W., Lee, F. C. Information technology and labour productivity growth: an empirical analysis for Canada and the United States, The Canadian Journal of Economics/Revue canadienne d'Economique, 1999, vol. 32, No. 2, pp. 384–407.
58. Jorgenson, D. W., Ho, M. S., Stiroh, K. J. Lessons for Europe from the US growth resurgence, CESifo Economic Studies, 2003, vol. 49, No. 1, pp. 27–47.
59. Partridge, M. D. Is inequality harmful for growth? Comment, The American Economic Review, 1997, pp. 1019–1032.
60. Grigor'ev, R. A., Kramin, M. V., Kramin, T. V., Timiryasova, A. V. Inequality of income distribution and the economic growth in the Russian regions during the post-crisis period, Ekonomika regiona, 2015, No. 3, pp. 102–113 (in Russ.).
61. Hausman, J. A. Specification tests in econometrics, Econometrica: Journal of the Econometric Society, 1978, pp. 1251–1271.

Citation :

Kramin T. V., Grigoryev R. A., Timiryasova A. V., Vorontsova L.V. The contribution of the intellectual and social capital in economic growth of Russian regions, Actual Problems of Economics and Law, 2016, vol. 10, No. 4, pp. 66–76 (in Russ.). DOI: 10.21202/1993-047X.10.2016.4.66-76

Type of article : The scientific article

Date of receipt of the article :

Date of adoption of the print :

Date of online accommodation :