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The article substantiates the holistic theoretical approach to the definition of the economic content,dominant characteristics,the structure and features of the regional resource potential as the basis of the regional economy capitalization. The methodological platform,an updated and expanded conceptual and categorical apparatus of capitalization o...
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... Capitalization -efficiency boosting tool in the regional economy Lyshchikova et al. (2016), in their admirable attempt to deliver a holistic theoretical and methodological analysis on the capitalization of the resource regional potential, offer four possible explanations of the process found in the dedicated literature: ...
... 1. The process of accumulation of the productive regional capital which is carried out in various ways (the growth of the value of regional assets) -Knyaginin (2003), Malova (2007) 2. The process of involvement of resources of the region in economic turnover and their transformation into the capital -Molchan (2011), Kolesnikov (2012), Darmilova (2007), Chernyshyov (2007), Pereslegin (2005 3. The process of changing forms of the regional capital -Nemkovich and Savelyev (2008), Yevstigneyeva and Yevstigneyev (2010) 4. The estimated characteristic of cost of the existing regional capital (the method of estimation of cost of assets of the region) -Arabkin (2003), Dedkova (2008), Tsybulsky and Silifonkina (2010)" However, the authors criticize the fragmented views on the understanding of this term and conclude that a holistic view is necessary, as nowadays capitalization means "the transformation of any resource into the capital" (Lyshchikova et al., 2016), be it of economic, social, cultural, environmental, political nature, tangible or intangible. ...
... The connection between the productive factor of territorial capital and the capitalization process can be drawn through a "reproductive, geo-economic institutional and multi-level system" (Lyshchikova et al., 2016(Lyshchikova et al., , p. 1686. This is called regional economy and it "can be represented as a complex multi-level system which consists of a plurality of interacting subsystems, components, connections, integrated into the structure" (Kolesnikov, 2012). ...
In a world where social needs surpass the effective resources meant to meet them, in a world where social change might be triggered by false expectations, scientists have joined forces with the private and public actors in order to exploit the full potentiality encountered at the regional levels. If we make a comparison between the social levels and the regional levels we might find astonishing similarities between a reference network and a cluster because they are both networks. The similarity is relevant from the behavioural point of view because any change in the society, be it at the social, economic, cultural, political, natural level is ignited by the human factor. Territorial capital, the innovative notion that reunites the productive assets found at the level of a territory, has been placed in the light of the current research given its potential in indicating economic growth and competitive advantage at the level of a territory. Being essentially a conceptual paper, this article extends the literature by offering a theoretical perspective on the terminology needed to understand territorial capital, to discover the possibilities of creating shared value process at different regional levels and, eventually, to analyse the capitalization concept, considering it an efficiency and social change generating tool in the regional economy. This paper is intended to bring a different, original, perspective at the theoretical level through the way in which the three core concepts are analysed in a common frame. Using the qualitative research methodology and the investigation of literature as a core research method, the conclusion reached was that the above mentioned concepts are interlinked conceptually. As far as the applicability of their relationship is concerned, this paper sets just the beginning of an in-depth research of these relevant fields of study.
