Examining the relationship of social capital, human capital and economi̇c development by structural equality modeling

The concept of social capital, which plays a role in expressing the social relations between a society or the social groups that make up a society, is important among economic activities. Countries around the world need to improve their social capital and increase their social capital in order to close the economic gap with developed or underdeveloped countries. Human capital is a type of capitalthataffectstheeconomicdevelopmentprocessand has a positiveeffect on individualsbyincludingthequalifications of individualssuch as knowledge, skillsandexperience in thisprocess.In addition, human capital, which is of great importance for all countries, is of vital importance for underdeveloped and developing countries. However, these underdeveloped and developing countries need equipped human capital in order to carry their development levels to advanced levels, that is, to move them to the level of developed countries. Inordertorevealthiscapital, a solidinfrastructuremust be established in thefield of healthandeducation. Inthisstudy, therelationship of socialcapitalandhumancapitalwitheconomicdevelopment is examined.Within the scope of the research, the structural equation modeling method was used to examine the relationship between social capital, human capital and economic development.Accordingly, Structural Equation Modeling method, one of the multivariate statistical methods, was used to measure the relationship between social capital, human capital and economic development. In this context, selected variables representing social capital, human capital and economic development were used for 120 countries whose data were available.According to the goodness of fit values of the 1st Level Multi-Factor Model examined, it is seen that the model fits the data. As a result, it is possible to talk about the existence of a generally good fit between the model and the data.Thus, it is seen that the variance and covariances of the variables observed by the model are explained quite well.In addition, according to the analysis results, it can be mentioned that there is a directly proportional relationship between economic development, human capital and social capital.