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{{Orphan|date=February 2017}}
L'''ocal development''' is a relatively young theory in social sciences based on the identification and use of the resources and endogenous potentialities of a [[community]], neighbourhood, city, municipality or equivalent.<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>▼
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The local development approach considers the endogenous potentialities of territories. Economic and non economic factors influence local development processes. Among the non economic factors, social, cultural, historical, institutional, and geographical aspects can be decisive in the process of local [[economic development]].<ref>ALBUQUERQUE, Francisco, Llorens Juan y Del Castillo Jaime (2002). “Estudio de casos de desarrollo económico local en América Latina”. Banco Interamericano de Desarrollo, Departamento de Desarrollo Sostenible, Washington D.C.</ref>▼
▲The local development approach considers the endogenous potentialities of territories. Economic and non economic factors influence local development processes. Among the non economic factors, social, cultural, historical, institutional, and geographical aspects can be decisive in the process of local [[economic development]].<ref>ALBUQUERQUE, Francisco, Llorens Juan y Del Castillo Jaime (2002).
== Definition ==
In this perspective, local economic development can be defined as a process of transformation of the local economy and society, oriented to surpass the difficulties and existent challenges. It seeks to improve the conditions of life of local population by means of actions concerted between the different local agents, social, public and private, towards an efficient and sustentable use of the existent endogenous resources.<ref>HELMSING B. (2001).
== Examples ==
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