Add to ORKGSocial capital is generally interpreted as the degree of trust, co-operative norms and networks and associations within a society. Economists have become increasingly interested in social capital, following the seminal work of Coleman (1988) and Putnam (1993). Since the publication of these studies a vast quantity of research on social capital has been published by economists, as well as researchers from other academic disciplines. This paper critiques a selection of the literature on social capital, in terms of its definition, measurement and effects. In terms of definitions, it is argued that social capital is a very similar concept to informal institutions, as defined by North (1990). It is argued that parallels can be drawn between the ...