By Joep Konings, Professor at KU Leuven
This paper is co-authored by Luca Marcolin, KU Leuven.
The paper reviews the current debate on social innovation and proposes a new definition, which stresses the link between social innovation and changes in social capital. By referring to the economic analysis of social capital the authors improve the understanding of social innovation and the mechanisms through which it impacts the economy, as well as the differences between social and technological innovations. The new definition also enhances the measurement of social innovation thanks to established indicators of social capital, thus permitting to score countries in their social innovation performance.