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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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The impact of social capital on economic attitudes and outcome, Journal of International Money and Finance (2020). Hasan, Iftekhar; He, Qing; Lu, Haitian


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Hasan, Iftekhar; He, Qing; Lu, Haitian 
Number of authors
Status Online First
Year of publication 2020 
Date 19.02.2020 
Name of article The impact of social capital on economic attitudes and outcome 
Name of journal Journal of International Money and Finance
Abstract This article traces the extant literature on the impact of social capital on economic attitudes and outcomes. Special attention is paid to clarify conceptual ambiguities, measurement techniques, channels of influence, and identification strategies. Insights derived from the literature are then used to analyze the marketplace lending industry in China, where the size of the peer-to-peer (P2P) lending market is larger than that of the rest of the world combined. Ironically, approximately two-thirds of these online P2P lending platforms have failed. Empirical evidence from the monthly operating data of 735 lending platforms and transaction level data from one prominent platform (Renrendai) shows that platforms in provinces with high social capital have low risk of failure, and borrowers in provinces with high social capital can borrow at low interest rate and are less likely to default. We also provide observations to guide future economic research on social capital.
Free text descriptor in Finnish sosiaalinen pääoma; luottamus; P2P; luotonanto; luotot; rahoitus; Kiina 
Free text descriptor in English Social capital; Peer-to-peer lending; Trust; China 
JEL-codes G10: O16; Z10; Z13 
ISSN / e-ISSN 0261-5606 
auki Internet addresses
Additional information Available online 19 February 2020.
Open Access Not known