Research On The Effect Of Social Capital On The Growth Of Regional Economy In China

People gradually realize that physical capital and human capital cannot represent the entire content of capital.Physical capital and human capital are only a part of economic factors.Besides,there are also social capital.After social capital is proposed,for economic growth.The explanation adds another new research idea.This paper comprehensively uses entropy method and factor analysis method to measure social capital,and empirical social capital acts on two transmission paths of economic growth:financial development and technological innovation.Then analyze the economic growth effects of social capital in each region:firstly descriptively analyze the differences between social capital differences and economic growth in each region,observe the geographical distribution characteristics of social capital and economic growth,and secondly give multiple regression analysis between social capital and economic growth.As a result,a simultaneous equation model is established for the endogeneity problem,and the robustness test is performed on the empirical results.The study finds that:(1)In the discussion of social capital in economics,we must first come out of the assumptions of economic man in neoclassical theory,and more inclined to the classical economic man to appear mainly in the discipline of new institutional economics.New economic man.(2)From the whole sample,the correlation coefficient between the social capital index and the per capita GDP calculated by the entropy method and factor analysis method is 0.741.which indicates that there is a significant positive correlation between social capital and economic growth in China.relationship.From the group sample,on the data map of social capital and economic growth,the gap between social capital and economic growth in China's eastern and western regions is significant,and the social capital and economic growth in the eastern region is better than the central and western regions.From the perspective of a single sample,there are some abnormal data,such as Tianjin,where large-scale state-owned projects account for a large proportion of output value,and Guizhou,where the number of community service organizations has increased sharply in recent years.Data processing inevitably has abnormal values,and we cannot rely on individual samples.It denies the data characteristics of the entire sample.(3)Social capital significantly affects economic growth.At the same time,any variable in the causal chain significantly affects the variables behind it.Financial development and technological innovation are the conduction paths of social capital to economic growth;if the path coefficient is positive.then this transmission is positive.After controlling the intermediary variables.the impact of social capital on economic growth is still significant,and financial development and technological innovation are not completely intermediaries.(4)The multiple regression coefficients between social capital and economic growth are significant,and social capital has a significant positive effect on economic growth.The coefficient of the interaction coefficient between social capital and traditional capital is negative,indicating that the effects of social capital and traditional capital can be replaced by each other.When the level of traditional capital is low,the role of social capital in economic sgrowth will be more significant.There is a two-way effect between social capital and economic growth,and at this time,due to positive feedback,the social capital coefficient becomes significantly larger.The above results are more robust when using social capital measured by different methods for robustness testing.