THE EXPANDING CONCEPT OF CAPITAL: THE ROLE OF SOCIAL AND HUMAN CAPITAL IN ECONOMIC DEVELOPMENT

Abstract

The purpose of this paper is to analyze the concept of social capital, its theoretical evolution, and its role in socio-economic development. The study explores how social capital interacts with human and economic capital, highlighting its significance in fostering economic growth, democracy, and social cohesion. Methodology. This study employs a mixed-methods approach to examine the role of social capital in the economic development of Ukraine. The research combines quantitative analysis of statistical data with qualitative insights gathered from surveys and expert interviews. Results. The findings of this study highlight the significant impact of social capital on Ukraine’s economic development. Higher levels of trust and civic engagement contribute to stronger economic performance. Regional differences in social capital affect economic stability and development potential. Strengthening institutional transparency and community-led initiatives is vital for sustainable economic growth. Practical implications. The findings of this study provide valuable insights into how social capital can be leveraged to foster economic development in Ukraine. The practical implications are relevant for policymakers, business leaders, and civil society organizations aiming to enhance economic resilience and long-term growth. Value / originality. This study contributes to the existing literature by offering a comprehensive analysis of the role of social capital in driving economic development in Ukraine, a context that has been underexplored in academic research.