The Role of Dynamic Social Capital on Economic Development Partnerships Within and Across Communities. (August 2014)

• Record Type: Journal Article
• Authors: Oh, Youngmin; Lee, In Won; Bush, Carrie Blanchard
• Is Part Of: Economic development quarterly. Volume 28:Number 3(2014:Aug.)
• Page Start: 230
• Page End: 243
• Publication Date: 2014-08
• Subjects: economic development partnership -- social capital -- transaction costs -- collective action; Economic development -- Periodicals; Economics -- Periodicals; United States -- Economic conditions -- Periodicals; 330.973
• DOI: 10.1177/0891242414535247
• Languages: English
• ISSNs: 0891-2424

Abstract

Various types of social capital facilitate the creation of intralocal or interlocal economic development partnerships because it reduces the transaction costs that lead to collective action problems. Prior studies have focused on explaining how collective action mechanisms lead to the creation of economic development partnerships. While multidimensional social capital plays a dynamic role in promoting economic development activities within and across communities, the underlying complexity of multidimensional social capital remains unexplored in prior studies. This study creates a typology presenting various dimensions of social capital and tests the effects of multidimensional social capital on different economic development partnerships. Results indicate that different dimensions of social capital contribute to creating economic development partnerships regardless of local boundaries.