Abstract
The present study was aimed at: (1) finding out and understanding the forms of social capital presenting among sellers at Kota Teluk Kuantan Traditional Market; (2) Analyzing the social capital within the interaction and transaction process among the sellers at Kota Teluk Kuantan Traditional Market. The present study was conducted at Kota Teluk Kuantan traditional market, Kuantan Singingi Regency, Riau. To this end, descriptive qualitative method was applied. This study revealed that: (1) Social capital established in Kota Teluk Kuantan traditional market comprised networks, social norms, trust from each market actors, (2) the trading culture makes the sellers adjust themselves to the relationship and social interactions that occur in the market. (3) The presence of social capital in the market reflects a significant role in promoting the sustainability of the traditional market in the midst of the continuous development of social and economic life in Teluk Kuantan.
Highlights
Presidential Regulation Number 112 of 2007 concerning the Structuring and Guidance of the Traditional Market, Shopping Center and Modern Shop defines traditional Market as the market developed and managed by the Government, Local Government, Private Sector, StateOwned Company and Regional Owned Company, including the cooperation with the private sector with the business location in form of Shops, Kiosks, Stalls and Tents that are owned/managed by small or medium scale traders, community self support or cooperatives with small scale business, small capital and with the buying and selling process of traded goods through bargaining
This study revealed that: (1) Social capital established in Kota Teluk Kuantan traditional market comprised networks, social norms, trust from each market actors, (2) the trading culture makes the sellers adjust themselves to the relationship and social interactions that occur in the market
Fukuyama (2001) defines it as informal norms in which individuals cooperate. Following this concept, grounded from the fact shown in Kota Teluk Kuantan traditional market, social capital emerges among the sellers or between the sellers and buyers
Summary
Presidential Regulation Number 112 of 2007 concerning the Structuring and Guidance of the Traditional Market, Shopping Center and Modern Shop defines traditional Market as the market developed and managed by the Government, Local Government, Private Sector, StateOwned Company and Regional Owned Company, including the cooperation with the private sector with the business location in form of Shops, Kiosks, Stalls and Tents that are owned/managed by small or medium scale traders, community self support or cooperatives with small scale business, small capital and with the buying and selling process of traded goods through bargaining. Traditional market serves as the primary means for selling necessities produced by medium- and micro-scale economic actors. The market facilitates them to find necessities. For the producers, it facilitates them to distribute their products. In general, has three primary functions: (1) as a means of distribution. In this regard, the market plays a crucial role in the effort of smoothing out the transfer of products from producers to consumers. A market is considered functioning well when the product distribution from producers to customers run well. The market is deemed not well-functioning if the distribution activities are often stuck. A market is a place where agreements between sellers and buyers about the value of a product. The sellers consider the profit from 166 | Ilomata International Journal of Social Science
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