engleski

Culture, History and Local Economic Development

The countries of Central and Eastern Europe share a common element in their historical experience, however, they differ in their history, traditions, culture, and economic and social structure. Introduction of market system is a necessary but not sufficient condition of economic development of these countries. Obviously, economic dynamics and development level do not depend only on the national economic system but also on other specific institutions of local social community. This is why in the paper is discussed that culture and history matter and that economic development is in various ways locally embedded. It is relying on local community, tradition and potentials. Such embedding is not a relict of the past to be erased by the modern globalisation processes, but right the opposite, it is the consequence of the economic opening.

culture; institutions; local economic development; social capital

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