115Received 07.03.2025. Revised 26.03.2025. Accepted 30.04.2025.
Acknowledgements. The study was carried out within the framework of the state order project (no. FWEU‑2021-0003, registration number ÀÀÀÀ-À21-121012090014-5) of the fundamental research program of the Russian Federation for 2021–2030.
Abstract. The accumulation of social capital is a necessary condition for economic growth, as it decreases transactional costs. Since the first industrial revolution, economic growth has been ensured, among other things, by expanding the area of accumulation of social capital: from local to global accumulation. At the beginning of the 21st century, as a result of increasing geopolitical turbulence and intensifying competition between countries for dominance, a process of fragmentation of global social capital has begun, consisting in the rupture of interaction networks between competing countries against the background of its further accumulation within the framework of existing political alliances. The fragmentation of global social capital could be traced by such facts as the emergence of new and the expansion of existing international organizations within the framework of established political alliances; by changes in the flows of international capital; by the intensification of cultural exchange between countries within the framework of existing political alliances; by changes in migration flows. The process of fragmentation of global social capital is self-sustaining, since it leads to a change in the structure of comparative costs of forming new networks of interaction with different countries. The costs of forming networks of interaction with countries that are part of one geopolitical alliance will decrease against the background of a radical increase in the time and financial costs of forming new networks of interaction with representatives of competing geopolitical unions. The article examines the factors that determined the dynamics of accumulation of global social capital, and draws conclusions about the consequences of its fragmentation, which include a slowdown in the transition to sustainable economy and the change in government strategies for accumulating national social capital.
Keywords: social capital, geopolitical dynamics, sustainable development, economic policy, political risks
REFERENCES
1. Piketty T. Capital in the Twenty-First Century. Moscow, Ad Marginem Press, 2016. 592 p. (In Russ.)
2. Acemoglu D., Robinson J.A. Why Nations Fail: The Origins of Power, Prosperity, and Poverty. New York, Crown Currency, 2013. 544 p.
3. Woolcock M., Narayan D. Social Capital: Implications for Development Theory, Research, and Policy. The World Bank Research Observer, 2000, vol. 15, iss. 2, pp. 225-249. Available at: https://doi.org/10.1093/wbro/15.2.225
4. Larionova N.I. Economic Approach to the Social Capital. Moscow University Economics Bulletin, 2012, no. 5, pp. 35-44. (In Russ.) Available at: https://elibrary.ru/download/elibrary_18259478_51258828.pdf (accessed 03.02.2025).
5. Hanifan L.J. The Rural School Community Center. The ANNALS of the American Academy of Political and Social Science, 1916, vol. 67, iss. 1, pp. 130-138. Available at: https://doi.org/10.1177/000271621606700118
6. Loury G. A Dynamic Theory of Racial Income Differences. Evanston, Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science, 1976. 95 p. Available at: http://www.kellogg.northwestern.edu/research/math/papers/225.pdf (accessed 03.02.2025).
7. Coleman J.S. The Creation and Destruction of Social Capital: Implications for the Law. Notre Dame Journal of Law, Ethics and Public Policy, 1988, vol. 3, iss. 3, pp. 375-404. Available at: https://scholarship.law.nd.edu/ndjlepp/vol3/iss3/3 (accessed 03.02.2025).
8. Bourdieu P. Distinction: A Social Critique of the Judgement of Taste. Cambridge, Harvard University Press, 1984. 613 p.
9. Guiso L., Sapienza P., Zingales L. The Role of Social Capital in Financial Development. American Economic Review, 2004, vol. 94, no. 3, pp. 526-556. Available at: https://www.aeaweb.org/articles/pdf/doi/10.1257/0002828041464498 (accessed 03.02.2025).
10. Knack S., Keefer P. Does Social Capital Have an Economic Payoff? A Cross-Country Investigation. The Quarterly Journal of Economics, 1997, vol. 112, no. 4, pp. 1251-1288. Available at: https://www.jstor.org/stable/2951271 (accessed 03.02.2025).
11. Whiteley P.F. Economic Growth and Social Capital. Political Studies, 2000, vol. 48, iss. 3, pp. 443-466. Available at: https://doi.org/10.1111/1467-9248.00269
12. Grootaert C., Narayan D., Jones V.N., Woolcock M. Measuring Social Capital. Washington, The World Bank, 2004. 53 p. Available at: https://www.researchgate.net/publication/259255184_Measuring_Social_Capital_An_Integrated_Questionnaire_Word_Bank_Working_Paper_No_18 (accessed 21.03.2025).
13. Portes A. Social Capital: Its Origins and Applications in Modern Sociology. Annual Review of Sociology, 1998, vol. 24, pp. 1-24. Available at: https://doi.org/10.1146/annurev.soc.24.1.1
14. Francois P. Social Capital and Economic Development. London, Routledge, 2002. 144 p.
15. Freitag M. Social Capital In (Dis)Similar Democracies. Comparative Political Studies, 2003, vol. 36, iss. 8, pp. 936-966. Available at: http://dx.doi.org/10.1177/0010414003256116
16. Uslaner E.M. The Moral Foundations of Trust. Cambridge, Cambridge University Press, 2002. 314 p.
17. Putnam R.D. Bowling Alone: The Collapse and Revival of American Community. New York, Touchstone Books by Simon & Schuster, 2001. 544 p.
18. Fukuyama F. Social Capital, Civil Society and Development. Third World Quarterly, 2001, vol. 22, iss. 1, pp. 7-20. Available at: https://doi.org/10.1080/713701144
19. Buzgalin A.V. “Social Capital” as a Modified Form of the Genesis of Post-capitalist Relations. Problems in Political Economy, 2024, no. 1, pp. 24-47. (In Russ.) Available at: https://scinetwork.ru/articles/9035 (accessed 21.03.2025).
20. Mokyr J. A Culture of Growth: The Origins of the Modern Economy. New Jersey, Princeton University Press, 2016. 400 p.
21. Shkhagoshev R.V., Shkhagoshev R.V., Buben A.A. Changes in International Capital Flows in the Modern World: Trends and Consequences. The Eurasian Scientific Journal, 2024, vol. 16, iss. 1, pp. 1-18. (In Russ.) Available at: https://esj.today/PDF/50ECVN124.pdf (accessed 03.02.2025).
22. Smirnov E.N., Lukyanov S.A. Global Foreign Direct Investment: Structural Changes in the Current Crisis. Economy of Region, 2021, vol. 17, no. 3, pp. 1014-1026. (In Russ.) Available at: https://doi.org/10.17059/ekon.reg.2021-3-21
23. Kheyfets B.A. Geopolitical Regionalism and the New Regionalization of the World Economy. International Organisations Research Journal, 2024, vol. 19, no. 4, pp. 7-22. (In Russ.) Available at: https://doi.org/10.17323/1996-7845-2024-04-01
24. Portanskiy A.P. The Risk of the Global Economy Fragmentation is Growing. International Organisations Research Journal, 2024, vol. 19, no 2, pp 7-20. (In Russ.) Available at: https://doi.org/10.17323/1996-7845-2024-02-01
25. Kun Wu, Samuseva T.V. Development of International Educational Cooperation between China and Russia. Economics: Yesterday, Today and Tomorrow, 2023, vol. 13, iss. 2A, pp. 217-226. Available at: http://publishing-vak.ru/file/archive-economy-2023-2/d14-wu-kun.pdf (accessed 03.02.2025).
26. Byasharova A.R., Tyurina O.A., Zokirova N.K., Abdurakhmanov K.Kh., Islamova B.B. Analysis of the Main Trends of International Labor Migration in the World. International Trade and Trade Policy, 2023, vol. 9, no. 1, pp. 51-64. (In Russ.) Available at: https://doi.org/10.21686/2410-7395-2023-1-51-64
27. Dinh Trung Nguyen, Thai Hong Le, Dinh Dinh Do, Hai Nam Nguyen. Does Geopolitical Risk Hinder Sustainable Development Goals? Evidence from a Panel Analysis. Journal of Environmental Management, 2023, vol. 347, 119204. Available at: https://doi.org/10.1016/j.jenvman.2023.119204
28. Loktionov V.I., Yenikeyeff Sh.M. Institutional Features of the Fourth Energy Transition. World Economy and International Relations, 2024, vol. 68, no. 7, pp. 35-44. (In Russ.) Available at: https://doi.org/10.20542/0131-2227-2024-68-7-35-44
29. Qiang Wang, Xinhua Wang, Rongrong Li. Geopolitical Risks and Energy Transition: The Impact of Environmental Regulation and Green Innovation. Humanities and Social Sciences Communications, 2024, vol. 11, 1272. Available at: https://doi.org/10.1057/s41599-024-03770-3
SOURCES
1. The World Bank Data. Available at: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD (accessed 03.02.2025).
2. 2024 World Investment Report. Geneva, UNCTAD, 2024. 165 p. Available at: https://unctad.org/system/files/official-document/wir2024_en.pdf (accessed 03.02.2025).
3. Direct Investment by Country and Industry, 2023. U.S. Bureau of Economic Analysis, 23.07.2024. 12 p. Available at: https://www.bea.gov/sites/default/files/2024-07/dici0724.pdf (accessed 03.02.2025).
4. World Migration Report 2024. Geneva, International Organization for Migration, 2024. 367 p. Available at: https://publications.iom.int/books/world-migration-report-2024 (accessed 03.02.2025).
No comments