An Empirical Study On The Promoter Action Of Interpersonal Trust To The Accumulation Of Human Capital

With the thorough research of economic sociology in recent years, interpersonal trust as an important economic behavior has attracted increasing attention. The obvious effects of human capital to the economic growth make it an urgent task to be sure of the ways and mechanisms of human capital accumulation for future researches. The view and perspective of interpersonal trust could not only be treated as a way of explaining the accumulation mechanism of human capital, but also make up the remaining deficiencies in theories.This paper first defines interpersonal trust and human capital accumulation, and then analyzes the promoting effects of interpersonal trust to human capital accumulation from the micro aspect. Human capital accumulation in this paper is defined as the increasing of stocks of human capital and the promotion of quality of human capital, and then on the basis of the definition, we analyze the influencing mechanism of interpersonal trust to human capital accumulation with modeling.We find that interpersonal trust has positive promoting effects to human capital accumulation through theoretical analysis and modeling. In this paper, we first analyze the promoting mechanism of interpersonal trust to human capital accumulation on the theoretical level, and believe that interpersonal trust promotes the accumulation of human capital by the increase of the stocks and quality of human capital. We take the education level as the main factor that influences the stocks and quality of human capital, because on one side it is the direct reflection of the stocks of human capital, on the other, it would influence the knowledge and technology flow and sharing between subjects. First we construct the interpersonal trust model in labor market with searching costs to confirm its effects to the increasing of stocks of human capital based on the education levels, we assume that compared with the workers with low human capital, when hiring workers with higher education levels, firms should confronted with searching costs because of the workers' cheating in their works. When the level of interpersonal trust is high, the searching costs firms face when hire workers would incline to be lower, which would lead firms to hire more workers with higher education levels to upgrade their production to realize the maximization of profits, because of the positive correlation between human capital and the wage levels, workers tend to invest more on education and human capital when the interpersonal trust level is high, which realizes the accumulation of human capital. In the following empirical analysis, we select data on interpersonal trust levels, education levels, openness, fertility rate, population density and GDP per capita of 50 typical countries in the world to study the promotion effects of interpersonal trust to the accumulation of human capital, which verifies the conclusion of the paper to a certain degree.