Social capital as an important factor of economic development of Ukraine and its regions

The methodical approach to assess the accumulation of social capital on the basis of its three components is proposed: 1) resource component (human capital); 2) environmental component (social, psychological and institutional environment); 3) effectiveness component (the level of welfare). This methodical approach allows to investigate not only its resource component, but also the ability to correct and effective usage of available resources, taking into account the positive effects of synergy and complementarity. Accumulation of social capital is revieled in the growth of social interaction in society. Effective usage of social capital depends on the purpose of its use: the higher accumulation of positive social capital, and the smaller the accumulation of negative social capital - the higher the efficiency of the usage of social capital. The highest efficiency of social capital achieved in the consolidation of joint and individual goals and, ideally, closer to the social optimum – when achieving of individual goals is tend to achieving of common goals, and vice versa – the subordination of the interests of economic processes to human development interests. Accumulation of social capital in Ukraine and its regions are influenced by such positive factors as: 1) a high level of human development, 2) a high level of interpersonal trust; and negative factors as: 1) the low level of public confidence in the state and legal institutions, 2) unfavorable business environment, 3) nominal membership in non-governmental organizations and their low influence, 4) low standard of living. Effective usage of social capital in Ukraine are influenced positively by the prevalence of social norms related to volunteer work. Obstacles to the effective usage of social capital are: 1) the unfavorable state of social norms such as religious and low culture of philanthropy among wealthy citizens, 2) the clan-oligarchic model of the economy. Public policy priorities of accumulation of social capital in Ukraine and its regions are identified as the following: improving the quality of governance and its accountability; interterritorial cooperation of communities; intersectoral partnership in the development policy of regional governance and increase of social responsibility. The task of social intersectoral interaction could be achieved by local development partnerships.