The aim of this paper is to analyze sources of social capital, i.e. that segment of the overall capital which is embedded in social ties and relationships. This is not an easy task because in theoretical debates differences between sources, manifestations and effects of social capital are very often blurred. It is argued that different approaches in the analysis of the sources of social capital could be integrated into one conceptual model which would include two direct sources of social capital social networks and social norms. In addition, formal institutions and trust are also closely related to social capital. These determinants influence the development of social capital and are mutually related.