The Contribution of ‘Social Capital’ to Economic Growth: Lessons from Island Jurisdictions

Abstract

This paper is concerned with the relationship of ‘social capital’ to economic development, with a deliberate focus on island territories. It argues that an appreciation of ‘social capital’ theory makes for a more informed understanding of how many (though not all) small, peripheral and network-driven island societies develop ‘good governance’ practices and manage a commendable standard of living. ‘Island neo-corporatism’ merits recognition on its own terms as the deep structure to ‘good governance’; and, in combination with jurisdictional powers, it is a key primer of economic development.