Abstract: Inclusive growth and high-quality development are consistent and synchronized with each other, and achieving inclusive growth is essential for high-quality development. In this paper, the Hamilton Optimization Model is constructed, and the social capital is included in the production function and accumulation equation respectively. Besides, numerical simulation analysis is conducted for the model parameters considering the economic characteristics of high-quality development. Mathematically, the core meaning of inclusive growth is clearly extracted, and then the action mechanism of social capital to promote inclusive growth is explored. On this basis, inter-provincial panel data from 2007 to 2018 is also used to further empirically verify the mechanism of social capital promoting inclusive growth. The results show that:Inclusive growth seeks coordinated development of economic, social and environmental development, with emphasis on "social inclusion" (people's well-being) and "ecological inclusion" (environmental quality); Social capital plays a significant role in promoting inclusive growth; Social capital influences inclusive growth by fostering generalized human capital, encouraging technological innovation and reducing energy consumption; The network and trust dimensions of social capital are important driving forces for inclusive growth, while the positive impact of the normative dimension has not been fully highlighted. The research conclusions will help promote high-quality development of economy, society and environment, and enrich and expand relevant research in the field of social capital and inclusive growth.

Key words: social capital, inclusive growth, high-quality development, people's well-being, environmental quality