Joseph Antwi Baafi
Abstract: This paper considers cognition and institution as social capital. Its starts from the freedom of Economic report. It was noticed that the core tenants of the freedom of Economics are deeply embedded in the core tenants of social capital which also has strong linkages to culture. Culture also relates to the mind of the people and their way of thinking, by setting the framework within which all interaction that take place can be viewed as crucial elements underlying the lives of people in the larger social existence. Quantitative indicators of culture and institutions as social capital were imputed from the World value Survey and was considered in the four countries under consideration, it was noticed that trust among Latvians though may take time but once given, is very strong. This same cannot be said for Lithuania, Kazakhstan and Kyrgyzstan. This can explain to some extent trust in public institution and high rate of economic growth in Latvia than the other countries.
Keywords: Cognition, Institution, Social Capital