Territorial Capital: Theory, Empirics and Critical Remarks

Abstract

Territorial capital has gained considerable attention in the past few years. The aim with this work is to throw light on some underlying aspects of territorial capital research. The study focuses on the theoretical and empirical issues of territorial capital and highlights some critical remarks related to the topic. On the one hand, the focus of the study is on the comparison of concepts and approaches in connection with territorial capital; then an in-depth look is taken at “capital frameworks” related to the research field. On the other hand, a comprehensive overview is presented of empirical investigations by comparing the applied methods, dimensions and variables of territorial capital. An argument is also made for a critical assessment concerning the topic with regard to the sense and function of territorial capital in regional economics and local economic development and highlights some further dilemmas concerning the “properties of capital” and “territorial capital paradigm”. Finally, some suggestions are provided for the future of territorial capital analysis. The main result of the study is an own belief in the concept of territorial capital.