THE IMPACT OF SOCIAL CAPITAL ON THE ECONOMIC GROWTH OF THE MUNICIPAL UNITS OF THE RUSSIAN FEDERATION CONSTITUENT MEMBER (BY THE EXAMPLE OF THE REPUBLIC OF TATARSTAN)


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Abstract

Currently, the problem of studying the role of institutional factors in the economic growth is of particular interest as the application of new approaches and tools for social and economic development of the territories provides the growth of competitiveness and attractiveness of the region. The social capital that includes the norms of behavior, social networks, and social relations is one of such mechanisms. The development and improvement of social capital promote the use of hidden immaterial resources, territory potential fulfillment, and the formation of economic and social relations. In order to develop the institutional environment in the Russian Federation, it is necessary to study social capital and test the hypothesis of existence and nature of its impact on the economic development at various levels. The paper presents the review of scientific results proving the existence of social capital impact on the economic development of the territory. Based on the analysis of scientific works, the authors prove the necessity of empirical study of the role of social capital in the development of municipal units. To evaluate the social capital effect on the economic growth at the municipal level, the authors used the expanded regression model of economic growth of Robert Solow based on Cobb–Douglas production function, including social capital as the additional factor of production of the regional domestic product. In the result of econometric modeling, the impact of social capital on the gross territorial product of the Republic of Tatarstan municipal units was identified and mathematically proved for the period of 2008–2015. The results allow making the conclusion on the necessity to develop the elements of social capital as one of the instruments of ensuring the economic growth at the municipal level.

About the authors

Alina Anasovna Shakirova

Timiryasov Kazan Innovative University, Kazan

Author for correspondence.
Email: alina-shakirova-kzn@yandex.ru

postgraduate student of Chair of Financial Management

Russian Federation

Timur Vladimirovich Kramin

Timiryasov Kazan Innovative University, Kazan

Email: kramint@mail.ru

Doctor of Sciences (Economics), Professor, Vice-rector for corporate management, Director of Research Institute of Problems of Social and Economic Development, Head of Chair of Financial Management

Russian Federation

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