سرمايه اجتماعي و توسعه مالي : اقتصادايران (1385-1350)

Social Capital and Financial Development: The Case of IRAN (1971-2006)

In this paper, I investigated the determinants of financial development with emphasis on social capital. First, I explain the relationship between financial development and its determinants, then estimate the model with Gregory-Hansen (1996) and Johansen-Juselious cointegration techniques in I.R. of IRAN (1971-2006). The results showed that, inflation and decline in social capital and weak property rights have the negative and significant effects on financial development. JEL Classification: G21, K42, 017, Z13