Instytucjonalne uwarunkowania konwergencji

The aim of the article is to present the role of social capital, a model of capitalism and the international processes of economic integration in effecting cohesive institutional governance, which could significantly shorten the time to convergence of developing countries with developed ones. Institutional governance always grows out of a particular form of social capital, a particular model of capitalism and the willingness of economic entities to partake in international cooperation. Cohesion is possible in a given model of capitalism with its institutions if those institutions are oriented towards strengthening the competitive order of markets, complying with ownership rights and the rule of law. No less important are social norms that foster trust and the reduction of opportunistic practices. These norms prove key in limiting the transaction costs of cooperation when economic subjects intend to enter into cooperation lasting longer than a single transaction. Transparent information order demands that the tasks and responsibility for information taken by public organs and economic subjects be institutionalised. Addressing a lack of any institutional inconsistency that may stand in the way of entrepreneurship is also necessary. The rebuilding of social capital through the integration of public social groups for fighting both crisis and threats to integrated development cannot be accomplished without respect for these principles: the just division of the costs of the crisis and cross-generational justice, subsidiarity in anti-crisis policy and the optimal forms of protection to enable the proportion between household and private sector expenditures and public expenditures to develop.