Regional social capital: Embeddedness, innovation networks and regional economic development |
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| Authors: | Roel Frans |
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| Institution: | aTilburg University, Faculty of Social Sciences, PO Box 90153, 5000 LE Tilburg, The Netherlands;bTilburg University, Faculty of Economics and Business Administration, PO Box 90153, 5000 LE Tilburg, The Netherlands;cRadboud University, Nijmegen School of Management, PO Box 90153, 5000 LE Tilburg, The Netherlands |
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| Abstract: | Technology is a necessary but not a sufficient condition for regional economic development. Regional innovation networks transform technology into competitiveness of firms and thus contribute to economic development. Intangible assets, such as social capital, decide how effective regional innovation networks function. Differences in regional social capital thus help explain regional differences in economic development. Regional social capital originates from the embeddedness of firms in regional webs of social relations. The norms, values and customs of these networks facilitate collaboration for mutual benefit. As innovation is increasingly a network effort, embeddedness and social capital also help explain how and why networks of innovating companies are successful, as the case study of the Stimulus Cluster Scheme shows. |
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| Keywords: | Regional development Social capital Embeddedness Innovation Networks |
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