Open AccessДРУШТВЕНИ КАПИТАЛ У ФУНКЦИЈИ УНАПРЕЂЕЊА РЕГИОНАЛНОГ РАЗВОЈА
Author(s) -
Жарко Ђорић
Publication year - 2021
Publication title -
godišnjak za sociologiju - filozofski fakultet u nišu/godišnjak za sociologiju
Language(s) - English
Resource type - Journals
eISSN - 1820-6360
pISSN - 1451-9739
DOI - 10.46630/gsoc.27.2021.04
Subject(s) - prosperity , decentralization , opportunism , social capital , business , bureaucracy , devolution (biology) , regionalism (politics) , transaction cost , competitive advantage , economic system , industrial organization , economics , economic growth , market economy , political science , democracy , finance , marketing , geography , archaeology , politics , law , human evolution
Regional development strategies should be based on the sound assessment of regional resources, capabilities, competences and core competences, as well as on dynamic capabilities aiming to develop the resource configurations in order to form their regional competitive advantage. Therefore, new regionalism is basically a bottom-up process, because the prerequisites for its successful implementation are the leadership and vision of local actors and administrations, civic participation, the growth of social capital and administrative decentralization and devolution of power. In that sense, the paper deals with important issues regarding the intangible determinants of regional economic development. The research method that will be dominantly used in this paper is the case-study method which aims to fully and thoroughly reconstruct the presence and role of social capital (primarily its structural dimension - social network platforms) in the regional development of world-famous and successful regions such as Silicon Valley, Baden-Wurttemberg and Emilia-Romagna. The overall conclusion of the paper is that regional growth is a function of the social capital stocks of respective regions to a significant extent. Social capital is positively linked to regional development and economic prosperity by reducing transaction costs, articulating collective actions, encouraging innovation and technology dissemination, discouraging opportunism and increasing monetary and non-monetary cost of fraud.