Social capital as factor of cluster development of the region

Objective to substantiate the increasing role of social capital in the development of modern clusters. Method abstractlogical. Based on comparative analysis the role of social capital in the functioning of clusters in different countries is studied including by the example of leather industry. Results the article determines that the success of cluster programs in different regions and countries depends on the role of social capital. Scientific researches are analyzed on the basis of which it is revealed that advantages of a cluster lie in its network structure level of trust and interaction which are the main components of the social capital. The theoretical studies of social characteristics of clusters are reviewed the specificity of regional and sectoral clusters in different countries is studied. The channels of creating social capital of a cluster are illustrated within the triple helix model. The role of social capital of a cluster is proposed to be considered on the basis of cost approach. In general the study and its results allowed drawing the following conclusion integrated management of social capital is a promising innovative direction of cluster development under modern conditions. Scientific novelty it is shown that cluster development requires innovations in the form of new mechanisms of social capital management. nbsp Practical significance the main provisions and conclusions of the article can be used by regional authorities for implementing and achieving the effectiveness of their cluster programs as well as in educational institutions in economic disciplines