Abstract:
This article reflects on the literature and theoretical frameworks regarding social
capital, the positioning of social capital in state and society relations and their
contribution to socio-economic development. The argument presented here is
that socio-economic development does not take place in a political vacuum and
the success or failure of development initiatives – including achieving socioeconomic
development and reducing poverty – is often reflected in the extent to
which the peculiarities of a particular political system, power relations and social
relationships are acknowledged and accommodated. Although grounded in Political
Science, Political Economy and Political Development, the debate and theoretical
development in these fields are still evolving, and the debate regarding the role of
social capital is still ongoing. The article emphasises the role and character of social
capital in providing the necessary links and relationships among individuals, groups
and state and society to enhance the socio-economic development outcomes. It
also reflects on some of the initiatives such as the World Bank’s Social Capital
Initiative and empirical evidence of the contribution of social capital in achieving
socio-economic development.
