Erosion of socio-cultural capital in South Eastern Europe

Erosion of socio-cultural capital in South Eastern Europe

Drachkovich M.V.

Dr. Sci. (Econ.), Assoc. Prof., Head of Marine Management and Logistics Department of University of Montenegro, Kotor, Montenegro

Jovovic R.M.

Dr. Sci. (Econ.), Prof., Head of doctoral studies, Mediteranian University Podgorica, editor in chief of „Economics and Economy“, Podgorica, Montenegro

Drachkovich V.D.

Dr. Sci. (Econ.), Prof., Head of doctoral studies, Maritime faculty of Kotor, University of Montenegro, editor in chief of

Streimikiene D.

Dr. Sci. (Econ.), Prof., Kaunas Faculty of Humanities, Vilnius University, editor in chief of „Transformations in Business & Economics”, Kaunas, Lithuania

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Drachkovich M.V., Jovovic R.M., Drachkovich V.D., Streimikiene D. Erosion of socio-cultural capital in South Eastern Europe. Sotsiologicheskie issledovaniya [Sociological Studies]. 2017. No 7. P. 99-106


In this paper authors consider the perception of respondents on a) the level of the quality of social and cultural capital in selected countries in South-Eastern Europe – Bosnia and Herzegovina, Serbia, and Montenegro, and b) the degree of negative impact on the social and cultural capital of following general factors: deficit of institutional change, neo-liberal quasi-institutional monism and path dependence. The aim is to explain in what ways social and cultural capital is associated with various factors, as well as their role in causing the crisis effects in society. It is assumed that these factors in varying degrees, directly and predominantly affect the society, cause inefficiency, and erosion of social and cultural capital, and therefore create the transition crisis, and unsatisfactory rates of development. The starting hypothesis has been fully proven using the multi linear regression analysis and a multiple hierarchical regression analysis. In addition, it is shown that a linear relationship explains well the functional dependencies that were studied, and that the authors have correctly identified the key independent variables (factors) that significantly influence the dependent variable (socio-cultural capital).

sociocultural capital; neo-liberal quasi-institutional monism; deficit of institutional change; path dependence; social environment


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Content No 7, 2017