사회적 자본과 비교우위
Social Capital and Comparative Advantage
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본 연구는 사회적 자본이 비교우위의 원천이 될 수 있는지를 분석한다. 속박(hold-up)의 문제를 해소하는데 계약제도만이 유일한 방법은 아니며, 사회적 자본이 그 대안이 될 수 있다는 가설을 설정하고, 1995-2009년 40개국 14개 제조업에 대한 패널데이터를 활용하여 사회적 자본이 무역패턴에 미치는 영향을 분석한다. 또한 비교우위의 원천을 분석한 선행 연구는 산업의 총수출을 수출 성과의 대용변수로 활용하고 있다. 그러나 재화와 서비스가 수차례 여러 국가의 국경을 넘나들 수 있는 글로벌 가치사슬이 심화되면서 총수출은 타국가에서 창출된 부가가치를 포함하고 있어서 비교우위를 나타내는 적절한 변수로 보기 어렵다. 이 문제를 해결하기 위해 본 연구는 부가가치 수출을 종속변수로 이용한다. 본 연구의 실증분석 결과는 사회적 자본이 비교우위의 원천으로 작용하고 있음을 보여주고 있다. 이러한 결과는 타인에 대한 신뢰 또는 관용으로 측정한 사회적 자본의 대용변수를 사용하더라도 강건한 것으로 나타났다.
Abstract
This paper studies the importance of social capital for comparative advantage. In particular, we suggest that contract institution is not the only way to alleviate so called “hold-up” problem, instead social capital can be also a source of comparative advantage. Using the panel data on 40 countries and 14 manufacturing industries for the period from 1995 to 2009, we examine the impacts of social capital on trade patterns. Moreover, the system GMM estimator is employed to cope with the potential endogeneity problem. Furthermore, the literature on sources of comparative advantage uses gross value of exports at the industry level as the dependent variable. However, with deepening global value chains allowing goods and services cross border many times, gross value of exports inevitably includes value added created in foreign countries and thus is not the appropriate measure of export performance for the analysis of comparative advantage. To deal with this problem, we use value added in exports as the dependent variable. We find that social capital can be an alternative to contract institution. This result still holds in the robustness check when we use the alternative measures of social capital such as trust, and tolerance.
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