Local economic development: Difference between revisions

Revision as of 15:55, 5 December 2020

Revision as of 09:44, 8 December 2020

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==Approach==

There are two broad approaches to LED. One is about developing a strategy for a ___location, mainly through planning. This is often the preferred approach by international development organisations and governments in developing countries .<ref>World Bank (2002), “Local Economic Development – A Primer“, December 2002.</ref>. The other approach is a more iterative approach where local stakeholders jointly learn about what is possible in the local context. In this approach a broad range of private and public stakeholders cooperate to improve local conditions to create jobs and local wealth. <ref>Cunningham, S. and [[Jörg Meyer-Stamer|Meyer-Stamer, J]]. 2005. Planning or doing local economic development? Problems with the orthodox approach to LED. Africa Insight, 35(1)[https://www.researchgate.net/publication/265199651_Planning_or_Doing_Local_Economic_Development_The_Problems_with_the_Orthodox_Approach_to_LED </ref>

According to the [[International Labour Organization]] (ILO), national and local governments, as well as enterprises and other organisations have to rethink development strategies to cope with ongoing events such as [[globalization]]. In contrast to traditional development policies, Local Economic Development strategies promote local dialogue and enable people to be more proactive; help to make local institutions better contribute to development; make economic activity dependent on the comparative advantages of a specific territory, generating development by firms more capable to withstand changes in the global economic environment rather than top-down development imposed by national planners.<ref>{{cite web |url=http://learning.itcilo.org/entdev/led/pub/home.aspx?l=Eng&IdSezione=0 |title=Archived copy |accessdate=2009-06-06 |url-status=dead|archiveurl=https://web.archive.org/web/20070501123347/http://learning.itcilo.org/entdev/LED/pub/home.aspx?l=Eng&IdSezione=0 |archivedate=2007-05-01 |df= }} ILO Website on LED</ref> Economic development activities in developing countries tend to be unidisciplinary, initiated and implemented by just one ministry or agency. An advantage of LED approaches is that they facilitate a multidisciplinary approach. [[South Africa]] has been particularly active in promoting the concept.<ref>http://led.public-hub.com/{{dead link|date=January 2018 |bot=InternetArchiveBot |fix-attempted=yes }} The South African LED Network</ref>