456

Appendix 1. 

Descriptive Statistics of Social Capital Variables

VariablesObservationsMeanMinimumMaximum
Social trust 7,446 2.32 1 4 
Personal trust 7,117 2.45 1 4 
Social networks 7,446 1.21 0 2 
Personal networks 7,117 1.33 0 2 
Trust in courts 7,446 2.74 1 4 
Trust in parliaments 7,117 2.01 1 4 
Trust in fairness 7,117 2.55 1 10 
Reciprocity 7,117 3.89 1 6 
Growth primacy 7,446 0.68 0 1 
Competition orientation 7,117 0.71 1 10 
Tolerance 7,446 4.59 1 10 
Acceptance of inequality 7,117 5.97 1 10 
VariablesObservationsMeanMinimumMaximum
Social trust 7,446 2.32 1 4 
Personal trust 7,117 2.45 1 4 
Social networks 7,446 1.21 0 2 
Personal networks 7,117 1.33 0 2 
Trust in courts 7,446 2.74 1 4 
Trust in parliaments 7,117 2.01 1 4 
Trust in fairness 7,117 2.55 1 10 
Reciprocity 7,117 3.89 1 6 
Growth primacy 7,446 0.68 0 1 
Competition orientation 7,117 0.71 1 10 
Tolerance 7,446 4.59 1 10 
Acceptance of inequality 7,117 5.97 1 10 

Source: Author's estimates using data from the World Values Survey (2005–2014).

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Appendix 2. 

Correlation Matrix of Social Capital Variables

VariablesTrust SocialTrust PersonalSocial NetworksPersonal NetworksTrust in CourtsTrust in ParliamentTrust in FairnessReciprocityGrowth PrimacyCompetition orientationToleranceAcceptance Inequality
Social trust 1            
Personal trust 0.53 1           
Social networks 0.43 0.26 1          
Personal networks 0.35 0.29 0.44 1         
Trust in courts 0.52 0.12 0.22 0.14 1        
Trust in parliaments 0.44 0.25 0.11 0.18 0.65 1       
Trust in fairness 0.56 0.31 0.35 0.27 0.51 0.49 1      
Reciprocity 0.61 0.42 0.29 0.31 0.37 0.36 0.51 1     
Growth primacy 0.34 0.23 0.13 0.25 0.33 0.42 0.63 0.21 1    
Competition orientation 0.12 0.19 0.20 0.22 0.29 0.33 0.43 0.19 0.64 1   
Tolerance 0.37 0.20 0.23 0.09 0.35 0.12 0.41 0.07 0.25 0.22 1  
Acceptance of inequality 0.21 0.18 0.17 0.25 0.41 0.24 0.46 0.12 0.59 0.68 0.21 1 
VariablesTrust SocialTrust PersonalSocial NetworksPersonal NetworksTrust in CourtsTrust in ParliamentTrust in FairnessReciprocityGrowth PrimacyCompetition orientationToleranceAcceptance Inequality
Social trust 1            
Personal trust 0.53 1           
Social networks 0.43 0.26 1          
Personal networks 0.35 0.29 0.44 1         
Trust in courts 0.52 0.12 0.22 0.14 1        
Trust in parliaments 0.44 0.25 0.11 0.18 0.65 1       
Trust in fairness 0.56 0.31 0.35 0.27 0.51 0.49 1      
Reciprocity 0.61 0.42 0.29 0.31 0.37 0.36 0.51 1     
Growth primacy 0.34 0.23 0.13 0.25 0.33 0.42 0.63 0.21 1    
Competition orientation 0.12 0.19 0.20 0.22 0.29 0.33 0.43 0.19 0.64 1   
Tolerance 0.37 0.20 0.23 0.09 0.35 0.12 0.41 0.07 0.25 0.22 1  
Acceptance of inequality 0.21 0.18 0.17 0.25 0.41 0.24 0.46 0.12 0.59 0.68 0.21 1 

Note: Pearson correlation coefficients are presented above.

Source: Author’s estimates.

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Appendix 3. 

Instrumental Variable Approach, Two-Stage Least Squares

(1)(2)(3)(4)(5)(6)
1st StageSocial TrustPersonal TrustSocial NetworksPersonal NetworksTrust in CourtsTrust in Parliaments
Average value 0.14*** 0.07** 0.06** 0.02** 0.12*** 0.16** 
(Instrument) (0.05) (0.03) (0.03) (0.01) (0.05) (0.07) 
F–statistics 31.71*** 28.9*** 36.78*** 18.78*** 24.62*** 34.48*** 
Controls Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,117 
 (7) (8) (9) (10) (11) (12) 
 Trust in Growth  Acceptance   
1st Stage Fairness Primacy Competition Inequality Reciprocity Tolerance 
Average value 0.78*** 0.05*** 0.51*** 0.69** 0.15** 0.33* 
(Instrument) (0.33) (0.02) (0.24) (0.37) (0.08) (0.20) 
F–statistics 29.01*** 37.10*** 16.42*** 27.28*** 19.50*** 23.32*** 
Controls Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,117 
2nd Stage (1) (2) (3) (4) (5) (6) 
Variablesa New Idea Tech. Dev. Sci. & Tech. Future Too Much World 
Social trust 0.056 −0.121 −0.104 −0.105 −0.039 −0.099 
 (0.032)* (0.059)** (0.065)* (0.077) (0.072) (0.059)* 
Personal trust −0.055 0.011 0.081 0.092 −0.022 0.109 
 (0.045) (0.032) (0.049)* (0.084) (0.091) (0.061)* 
Social networks 0.069 −0.053 −0.076 −0.054 0.105 −0.055 
 (0.036)* (0.044) (0.101) (0.095) (0.099) (0.030)** 
Personal networks 0.041 0.031 −0.043 −0.042 0.035 −0.012 
 (0.033) (0.065) (0.026)* (0.055) (0.048) (0.031) 
Trust in courts −0.012 0.096 0.197 0.174 −0.032 0.156 
 (0.013) (0.045)** (0.081)*** (0.091)** (0.044) (0.071)*** 
Trust in parliaments 0.001 0.085 0.051 0.066 −0.051 0.199 
 (0.003) (0.043)** (0.048) (0.040)* (0.071) (0.099)** 
Trust in fairness 0.015 −0.010 0.093 0.097 0.011 0.071 
 (0.007)** (0.053) (0.044)*** (0.051)** (0.021) (0.033)*** 
Reciprocity 0.121 0.076 0.009 0.006 −0.075 0.100 
 (0.061)** (0.034)*** (0.052) (0.021) (0.044)* (0.051)** 
Growth primacy 0.091 0.095 0.095 0.113 −0.111 0.198 
 (0.032)*** (0.051)** (0.050)** (0.054)*** (0.061)** (0.079)*** 
Competition orientation 0.032 0.054 0.109 0.195 −0.065 0.123 
 (0.016)** (0.017)*** (0.057)** (0.095)** (0.031)*** (0.065)** 
Tolerance 0.020 −0.037 0.071 −0.001 0.002 0.009 
 (0.016) (0.020)* (0.041)* (0.011) (0.015) (0.011) 
Acceptance of inequality 0.045 0.025 0.098 0.074 0.010 0.040 
 (0.016)*** (0.011)*** (0.043)*** (0.039)** (0.039) (0.020)*** 
Controls Yes Yes Yes Yes Yes Yes 
Economywide fixed effects Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,108 
Countries 6 6 6 6 6 6 
Hansen test (p-value) 0.35 0.33 0.29 0.30 0.42 0.38 
(1)(2)(3)(4)(5)(6)
1st StageSocial TrustPersonal TrustSocial NetworksPersonal NetworksTrust in CourtsTrust in Parliaments
Average value 0.14*** 0.07** 0.06** 0.02** 0.12*** 0.16** 
(Instrument) (0.05) (0.03) (0.03) (0.01) (0.05) (0.07) 
F–statistics 31.71*** 28.9*** 36.78*** 18.78*** 24.62*** 34.48*** 
Controls Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,117 
 (7) (8) (9) (10) (11) (12) 
 Trust in Growth  Acceptance   
1st Stage Fairness Primacy Competition Inequality Reciprocity Tolerance 
Average value 0.78*** 0.05*** 0.51*** 0.69** 0.15** 0.33* 
(Instrument) (0.33) (0.02) (0.24) (0.37) (0.08) (0.20) 
F–statistics 29.01*** 37.10*** 16.42*** 27.28*** 19.50*** 23.32*** 
Controls Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,117 
2nd Stage (1) (2) (3) (4) (5) (6) 
Variablesa New Idea Tech. Dev. Sci. & Tech. Future Too Much World 
Social trust 0.056 −0.121 −0.104 −0.105 −0.039 −0.099 
 (0.032)* (0.059)** (0.065)* (0.077) (0.072) (0.059)* 
Personal trust −0.055 0.011 0.081 0.092 −0.022 0.109 
 (0.045) (0.032) (0.049)* (0.084) (0.091) (0.061)* 
Social networks 0.069 −0.053 −0.076 −0.054 0.105 −0.055 
 (0.036)* (0.044) (0.101) (0.095) (0.099) (0.030)** 
Personal networks 0.041 0.031 −0.043 −0.042 0.035 −0.012 
 (0.033) (0.065) (0.026)* (0.055) (0.048) (0.031) 
Trust in courts −0.012 0.096 0.197 0.174 −0.032 0.156 
 (0.013) (0.045)** (0.081)*** (0.091)** (0.044) (0.071)*** 
Trust in parliaments 0.001 0.085 0.051 0.066 −0.051 0.199 
 (0.003) (0.043)** (0.048) (0.040)* (0.071) (0.099)** 
Trust in fairness 0.015 −0.010 0.093 0.097 0.011 0.071 
 (0.007)** (0.053) (0.044)*** (0.051)** (0.021) (0.033)*** 
Reciprocity 0.121 0.076 0.009 0.006 −0.075 0.100 
 (0.061)** (0.034)*** (0.052) (0.021) (0.044)* (0.051)** 
Growth primacy 0.091 0.095 0.095 0.113 −0.111 0.198 
 (0.032)*** (0.051)** (0.050)** (0.054)*** (0.061)** (0.079)*** 
Competition orientation 0.032 0.054 0.109 0.195 −0.065 0.123 
 (0.016)** (0.017)*** (0.057)** (0.095)** (0.031)*** (0.065)** 
Tolerance 0.020 −0.037 0.071 −0.001 0.002 0.009 
 (0.016) (0.020)* (0.041)* (0.011) (0.015) (0.011) 
Acceptance of inequality 0.045 0.025 0.098 0.074 0.010 0.040 
 (0.016)*** (0.011)*** (0.043)*** (0.039)** (0.039) (0.020)*** 
Controls Yes Yes Yes Yes Yes Yes 
Economywide fixed effects Yes Yes Yes Yes Yes Yes 
Observations 7,117 7,117 7,117 7,117 7,117 7,108 
Countries 6 6 6 6 6 6 
Hansen test (p-value) 0.35 0.33 0.29 0.30 0.42 0.38 

Notes: aNew Idea: importance of new ideas and creativity; Tech. Dev.: importance of technological development; Sci. & Tech.: importance of science and technology today; Future: importance of science and technology in the future; Too Much: acceptance of the statement “we depend too much on science;” World: acceptance of the statement “science makes the world better.” Numbers in parentheses are robust standard errors clustered at the individual level. *p < .10, **p < .05, ***p < .001. The coefficients of the control variables are not presented here to save space.

Source: Author’s estimates.

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