An economic growth which is wide-area scattered is one of the most important indicator of social well-being and is such a strong factor that can induce long-range demographic dynamics. Incoming migration fluxes are scattered across the national territory following patterns that appear mostly relational rather than economically driven. The resulting effect can be the well known problem of Spatial Mismatch, SM. The institutionalist approaches permits to use different scaled units of analysis, with different levels of integration but coexistent under the very same historical-social pattern-determining context. This work will try to explain the relationship between SM and the more general Transaction Costs. With this hypothesis it will be possible to read from a (neo)institutionalist perspective the whole, empirical and theoretical, body of Spatial Mismatch.Trough the introduction of the temporal perspective the present work propose a theoretical framework that shows that the increasing degree of spatial mismatch discussed in the case study has appeared only when the redistributive action so important for the initial devel-opment, and operated mainly trough the increasing of social capital stock, has declined. Therefore upgrade policies of public goods are considered constantly needed in order to promote growth itself. Our work will try to relate SM effects and decreasing in Social Capital in a very interesting test bed, the Province of Modena, world known for its production districts.