Economic Analysis: Theory and Practice
 

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Social capital as an environment for entrepreneurship

Vol. 18, Iss. 9, SEPTEMBER 2019

Received: 21 May 2019

Received in revised form: 3 June 2019

Accepted: 21 June 2019

Available online: 30 September 2019

Subject Heading: THEORY OF ECONOMIC ANALYSIS

JEL Classification: C51, E66, O11, Z13

Pages: 1700–1716

https://doi.org/10.24891/ea.18.9.1700

Kharin A.G. Kaliningrad State Technical University (KSTU), Kaliningrad, Russian Federation
agkharin@yandex.ru

https://orcid.org/0000-0002-4375-7666

Subject The article addresses mechanisms and forms of influence of social capital on business.
Objectives The study aims at searching for and assessing the links between the key components of social capital and the business environment as part of economic analysis at the micro, meso and macro level.
Methods The study draws on the umbrella concept of social capital. Social capital is considered as a special economic environment that creates conditions for effective functioning and ensures synergetic interaction of various factors of entrepreneurship. People are the source of social capital. Therefore, the paper focuses on correlation between individual assessment of social capital status and characteristics of business climate.
Results The paper systematizes approaches to the study of cause-and-effect relationships between social capital and economic factors. It identifies the most important components of social capital and measures their impact on business climate, establishes significant links between the level of confidence in the government, the level of associative activity on the one hand, and indicators of the quality of business environment on the other hand.
Conclusions The most important components of business climate that are driven by social capital are the quality of State institutions and associative activity. It is crucial to improve and develop them.

Keywords: social capital, entrepreneurship, economic analysis, cause-and-effect relation

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