Subject. The study considers the essence of social capital, the composition of factors influencing its formation. Special emphasis is given to the methodology for assessing social capital and its impact on the development of the economy of the State. Objectives. The aim is to develop unique proposals to increase the level of social capital of developing countries. Methods. The study employs general and special methods of research, like analysis, synthesis, generalization, abstraction, analogy, comparison, observation, monitoring, modeling, statistical methods, including grouping of data and sampling. Results. Different studies show that the lower the level of social capital, the less efficient the economy of the State becomes. The problem of such studies is in the lack of clear criteria for determining the social capital, and methods of its calculation. General conclusions about the impact of social capital on the level of economic development are not supported by specific indicators that clearly demonstrate the existence of such determination. I offer recommendations for improving the level of social capital of developing countries that can be a basis for a program to increase social capital and improve the social sphere of developing countries. Conclusions. The study shows that developed countries usually have higher level of social capital development as compared to developing countries. Regular analysis of factors, effective and timely measures to correct their impact can increase the level of social capital, which, in turn, will contribute to the development of the economies of developing countries.
Keywords: social capital, trust, social network, social norm, social value
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