Territorial capital as a driver of regional competitiveness: A theoretical framework
The paper analyzes contemporary theoretical approaches to explaining the elements of territorial capital, which are recognized as key drivers of improving regional competitiveness. Special emphasis is placed on the decomposition of territorial capital depending on ownership structure and...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Institute of Architecture, Urban & Spatial Planning of Serbia
2025-01-01
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| Series: | Spatium |
| Subjects: | |
| Online Access: | https://doiserbia.nb.rs/img/doi/1450-569X/2025/1450-569X2553022A.pdf |
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| Summary: | The paper analyzes contemporary theoretical approaches to explaining the
elements of territorial capital, which are recognized as key drivers of
improving regional competitiveness. Special emphasis is placed on the
decomposition of territorial capital depending on ownership structure and
materiality. The paper thoroughly examines the characteristics of the
elements of territorial capital, with a particular focus on their
contribution to the growth of regional competitiveness. The research is
based on the application of descriptive economic analysis, enriched with
visual representations that depict the concept of territorial capital and
regional competitiveness. Descriptive analytical tools have enabled the
precise description of the essential features of various components of
territorial capital, while visual representations have further enhanced the
understanding and interpretation of the core concepts investigated in the
study. In the course of the research, classical and contemporary sources
were utilized to analyze the nature and key determinants of endogenous
growth, as well as the essence of the concepts of regional competitiveness
and territorial capital. A specific methodological approach was directed
towards the systematization and analysis of territorial capital categories,
with typological research methods predominantly employed to achieve precise
classification and interpretation of relevant components. The results of the
research indicate that the improvement of regional competitiveness largely
depends on the efficient and effective utilization of available territorial
capital. The primary task of policymakers is to facilitate networking,
cooperation, and coordination among entrepreneurial and other participants
in developmental processes, with the goal of creating synergies that
contribute to sustainable development and regional competitiveness. |
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| ISSN: | 1450-569X 2217-8066 |