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JOURNAL OF LEADERSHIP, ACCOUNTABILITY AND ETHICS

Social Capital as an Elusive Factor of Socio-Economic Development

Author(s): Urszula Markowska-Przybyla

Citation: Urszula Markowska-Przybyla, (2012) "Social Capital as an Elusive Factor of Socio-Economic Development," Journal of Leadership, Accountability and Ethics, Vol. 9, Iss. 3, pp. 93 - 103

Article Type: Research paper

Publisher: North American Business Press

Abstract:

The modern economy is characterized by an intense interest in non-economic factors (e. g. cultural,

institutional) in explaining economic phenomena. This is reflected in an increasing interest of economists

in the concept of social capital. The article presents the role of social capital in economic development

and in regional development. It shows the difficulties of measuring social capital, among others, with the

problem of data aggregation or with the necessity to take into account the context. The difficulties these

cause suggest that social capital still remains an elusive capital.