INSTITUTIONAL AND SOCIO-ECONOMIC PREREQUISITES FOR THE FORMATION OF CREATIVE CAPITAL

Keywords: creative capital, human potential, social capital, cultural capital, creative economy

Abstract

The article reveals the concept of creative capital as a systemic resource for the development of society and the definition of institutional and socio-economic prerequisites for its formation. Various scientific approaches to the definition of creativity and creative capital are analyzed, their connection with human, social and cultural capital is revealed, as well as the importance of professional communities and creative industries. The role of innovative educational practices, cultural infrastructure, creative hubs, innovation clusters and digital technologies as factors in the development of the creative potential of the individual and society is highlighted. Particular attention is paid to the interaction of institutional quality, social capital, the level of economic stability, cultural diversity and openness of society to innovations. The importance of digitalization as a tool for overcoming spatial disparities in the development of creative industries is substantiated, and at the same time the risks of the formation of digital inequality are outlined. The paper shows that the development of creative capital requires a holistic state policy aimed at increasing inclusiveness, supporting innovation ecosystems, developing education, culture and digital competencies of the population. As a result of the formation of favorable institutional and socio-economic conditions, creative capital becomes a driver of economic growth, technological innovation, social cohesion and cultural progress, which ensures the competitiveness and sustainability of society in the face of global challenges.

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Published
2025-09-04
How to Cite
Karintseva, O., Kubatko, O., Balagurovska, I., & Kolesnyk, R. (2025). INSTITUTIONAL AND SOCIO-ECONOMIC PREREQUISITES FOR THE FORMATION OF CREATIVE CAPITAL. Sustainable Development of Economy, (4 (55), 468-476. https://doi.org/10.32782/2308-1988/2025-55-63