Local economic development pdf

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For example, Bartik claims that the first wave of local- economic development occurs. in the thirties of the 20th century in the United States [ 8]. Other authors as the onset of the concept of local economic development take the postwar period of forties of the 20th cen- tury, which was a developmental and dynamic period in many fields. The topic this analysis deals with is complex and refers to local economic development in the theories of regional economies and rural studies. Local economic development is composite and complex area that, in addition to economic development policy including agriculture, also incorporates other divisional, structural and social policies, local. Why local economic development is important? What is local economic development strategy? Local economic development ( LED) defined LED forms part of the micro- economic component of development economics. According to Lewis ( 1966), “ development economics is not very complicated as the secret to successful economic development planning lies in sensible politics and good public administration”. The purpose of local economic development is to build up the economic capacity of a local area to improve its economic future and the quality of life for all. It is a process by which public, business and non- governmental sector partners work collectively to create better conditions for economic growth and employment generation. What are the four stages of economic development?

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