AN EXPLORATORY ANALYSIS OF THE TERRITORIAL CAPITAL IN ROMANIA: CASE STUDY OF BIHOR REGION

EU member states are characterized by very diferent endowments of territorial capital. This set of territorial assets having economic, cultural, social and environmental nature is documented to impact the economic performance of territories. The concept of territorial capital summarizes the endogenous sources of economic development and provides a solid, homogenous theorethical framework through which present regional scenarios can be explained and policy implicaton can be identified. This paper develops a model of the concept of territorial capital. This model investigates its composition of tangible and intangible goods. The structure of territorial capital across countries is also accounted for, with to aim of understanding spatial imbalances and factors fostering territorial capital accumulation across Romanian counties. The proposed empirical research uses a dataset concerning territorial capital across a Romanian county (Bihor) assembled from the site of Romanian National Institute of Statistics and National Prognosis Commission.