Abstract
Network science has been widely applied in theoretical and empirical studies of global value chain (GVC), and many related articles have emerged, forming many more mature and complete analytical frameworks. Among them, the GVC accounting method based on complex network theory is different from the mainstream economics in both research angle and content. In this paper, we build up global industrial value chain network (GIVCN) models based on World Input–Output Database, introduce the theoretical framework of Social Capital, and define the network-based indicators with economic meanings. Second, we follow the econometric framework to analyze the hypothesis and test whether it is true. Finally, we study how the three types of capital constituted by these indicators interact with each other, and discuss their impact on the social capital (economic development level, i.e., GDP). The results prove that the structural capital (industrial status) has a positive impact on the social capital; the relational capital (industrial correlation) has a positive impact on both social capital and structural capital; the cognitive capital (industrial structure) has a small impact on the social capital, structural capital, and relational capital.
Highlights
We explore the internal relations between social capital and its three dimensions represented as the industrial status, industrial correlation, and industrial structure on the Global Value Chain (GVC)
This study regards the level of economic development as social capital, and for the first time uses the three dimensions of social capital theory to examine the impact of each dimension on the level of national economic development
An industrial complex network is built up according to the basic framework of econophysics and an econometric analysis framework is adopted to test the relevant hypotheses
Summary
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. It is of significance to study the operating mechanism of the global economic system from the perspective of GVC, so as to enhance the country/region’s relative competitive advantage. The prerequisite of understanding the internal mechanism of an economic system is to gauge the structural complexity of the entire system, which, is made easier by the constantly developing complex network technology. GVC accountThe and empirically enrich thethe accounting system with with the tools and econometrics, adding to theup existing ing system the from tools econophysics from econophysics and econometrics, up adding to the theoretical framework. Section 5Section carries 5out the analytical framework from a network-based social capital perspective.
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