( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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WHY SOCIAL CAPITAL IN DEVELOPMENT DISCUSSION- EMPIRICAL EVIDENCES

    1 Author(s):  VIDHYA I. V

Vol -  6, Issue- 7 ,         Page(s) : 320 - 325  (2015 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

In the discussions on development initiatives, the term ‘social capital’ is gaining much attention. The concept of social capital is broad and commonly used to refer community spirit, civic virtue, trust, cooperation, friendship, social mobilization, informal and formal networks and so on. The World Bank (1998) defines social capital as “the institution, relationships and norms that shape the quality and quantity of a society’s social interaction”. Economics, political science, sociology, and regional science literatures make a strong case that “non-economic” factors influence economic growth and development. Some even argue that increased levels of social capital can generate a better capacity for development initiatives than markets and political institutions. There are empirical evidences that increased levels of social capital can create a greater capacity for development initiatives.

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