SOCIAL CAPITAL IN KNOWLEDGE BASED ECONOMY. CHOSEN ASPECTS

Andzelika Libertowska ()
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Andzelika Libertowska: Poznan University of Technology, Poland

Oeconomia Copernicana, 2014, vol. 5, issue 3, 93-107

Abstract: The article raises the issue of social capital in the context of building a knowledge-based economy. Globalization, the increasing mobility of factors of production and the development of information technology have all led compa-nies towards a stronger competitive struggle. Competing with factors of produc-tion of material nature has become insufficient. Therefore, the interest of econo-mists is now focusing on the role of informal institutions in the process of eco-nomic growth. The growth of the designations of social capital such as trust, norms and values, collaboration and relationship building, affects the ease of information flow, creation and transfer of knowledge - all of which translate into a reduction of transaction costs, increased innovativeness and competitiveness. The purpose of this article is to present the importance of social capital in the process of building a knowledge-based economy, and above all, the growth of innovativeness and entrepreneurship on the example of Poland. The study con-tains a review of literature sources which deal with the role of informal institu-tions in the fundamental aspects of knowledge economy, and thus, the value of companies, their intellectual capital, ease of business transactions, and above all, innovativeness. The last factor is presented on the canvas of current empirical data derived from institutions analyzing the level of Polish innovativeness. In addition, the article presents the results of empirical research on cross-organizational collaboration of selected companies of the food sector in Greater Poland and the importance of social capital in achieving competitive advantage in the international arena.

Keywords: social capital; knowledge-based economy; cooperation; knowledge transfer; transaction costs; enterprise innovation; intellectual capital (search for similar items in EconPapers)
JEL-codes: A1 A13 A14 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pes:ieroec:v:5:y:2014:i:3:p:93-107

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