Conceptual approaches to territorial capital

Abstract

The conception of territorial capital emerged in the terminology of modern regional sciences about ten years ago. It examines those material and intangible assets which determine local competitiveness. The introduction of the category of territorial capital is important because earlier investigations have only examined the tangible assets and the variables that can be easily measured in economic terms. However, the territorial capital is a new, complex concept through which it is possible to examine the deeper relationship system of an economic structure; it can help determine the attractiveness of a given spatial structure. In this study we introduce the terminology, the classification, the models and the results of an experiment involving territorial capital. In the first chapter we examine the functions, innovation possibilities, major characteristics and the feature of its methodical process (MASST model: MAcroeconomic, Sectoral, Social and Territorial). After this, we present the conceptual models of territorial capital as presented by the OECD and Roberto Camagni. The territorial capital includes several components which split in a systematical way and fit together accordingly. It has not found a generally accepted definition yet, so we can meet only attempts at its definition. To find a commonly accepted definition is made even more complicated by the fact that the different conceptual models use several capital elements. Of course, there are overlaps, analogies among the models but we can often find differences as well.