Regional Economics: Theory and Practice

Social capital: Key issues and factors of development as part of the formation of human capital and satisfaction of socio-economic needs of the population

Vol. 16, Iss. 6, JUNE 2018

Received: 16 April 2018

Received in revised form: 11 May 2018

Accepted: 18 May 2018

Available online: 15 June 2018


JEL Classification: A14, Z13

Pages: 1115–1126

Gerasimova L.A. Ufa Federal Research Center of Russian Academy of Sciences, Ufa, Republic of Bashkortostan, Russian Federation

ORCID id: not available

Importance The article overviews key aspects of social capital as a driver of spatial socio-economic development.
Objectives The research describes the principal issues and prospects that may arise as social capital evolves. I also examine key mechanisms for utilization of human capital and satisfaction of the public socio-economic needs.
Methods I apply a systems approach and elements of structural and functional analysis, adhering to general scientific principles for generalizing the main areas of social reality studies as set forth by P. Bourdieu, R.D. Putnam, J. Coleman, A. Maslow, F. Herzberg.
Results I infer the following pattern. The more the public needs, the higher the development level of social capital. I classify key factors of trends in social capital development at the macro-, meso- and microlevel. Each level of social capital application is found to inflict some issues, which shall be addressed to ensure the favorable development of spatial systems.
Conclusions and Relevance Social capital and its development basically shape the nature of socio-economic changes since they constitute a set of factors determining the way all public subsystems operate. Social capital is indispensable without the formation of the public needs pursuing an increment in publicly important benefits, intensification of positive social factors, elimination of principal issues of social capital development as part of territorial systems.

Keywords: needs, socio-economic development, social capital, human capital


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