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The '''local development''' is a relatively young theory in social science based in the identification and use of the resources and endogenous potentialities of a [[community]], neighbourhood or city.<ref>Montoya A. (1998). ¿Desarrollo local o desarrollo Comunitario? ''Realidad'' No. 61, enero-febrero de 1998. ISSN-e: 1991-3516</ref><ref>Alburquerque, F. Metodología para el Desarrollo Económico Local, Dirección de Desarrollo y Gestión Local. </ref>
The local development approach considers endogenous potentialities of each territory, the economic and no economic factors, between these last it can be mentioned the social resources, cultural, historical, institutional, landscape, etc. All these factors are also decisive in the process of local [[economic development]].
== Definition ==
In this perspective, it will be able to define the local economic development like the process of transformation of the economy and of the local society, oriented to surpass the difficulties and existent challenges, that looks for to improve the conditions of life of his population by means of an action decided and concerted between the different local socioeconomic agents, publics and private, for the more efficient and sustentable use of the existent endogenous resources, by means of the promotion of the capacities of local [[Entrepreneurship|entrepreneurship]] and the creation of some innovative surroundings in the territory. In this approach it is also considered the importance of the social capital and the links of cooperation with external agents to capture human resources, technicians and monetary, among others, that contribute to the local strategy of development <ref>Pike A. (2007). "What Kind of Local and Regional Development and for Whom?" ''Regional Studies'', Vol. 41.9, pp. 1253–1269, December 2007. DOI: 10.1080/00343400701543355 </ref>.
== Examples ==
There exist many international institutions (Foundation [[Dag Hammarskjöld]], FLACSO-Academic Headquarters Guatemala and Costa Rica, the Centre for the Local Development of the OCDE) and other of national character in different countries of the world abocadas to improve the conditions of life of the local spaces by means of this approach of the development. Between some authors whose work influences in this approach of the development it can find [[Manfred Max Neef|Manfred Max-Neef.]] His texts "The barefoot economy" and "Development to scale Human" are a good example of this.
== See also ==
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